For Cyber Monday, Preferred Hotels is a free night and 30,000 bonus points when they book on Monday(11/28 only) using promo code MKTCYB and book at least two paid nights.

You pretty much get a “third night free” plus a bonus of 30,000 points with this offer.

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Preferred Hotels Cyber Monday Promotion

Direct Link to Offer
Promotion: A “free night now” and a “free night later” for Cyber Monday: On 11/28, book a paid stay of a minimum of two nights and get an extra night for free on that reservation plus 30,000 points when you use promo code MKTCYB.
Expiration: Book stays on November 28, 2022
Availability: iPrefer Rewards members only
Terms & Conditions:
- Must book on 11/28 only
- Must travel 11/28-3/31/23
- Participating properties only (though it seems like most are participating?
- Booking must contain a valid I Prefer Member Number and be made through PreferredHotels.com, IPrefer.com, the I Prefer App, Preferred Hotels & Resorts Global Reservations, or your travel professional.
- Minimum 2-night stay required (before the free night).
- Offer is limited to points-eligible stays but cannot be combined with other Bonus Points offers.
- In case of multiple bonus points offers available for selected rate and hotel, 30,000 bonus points offer will not apply.
- Bonus points from this offer will expire one year after awarding, and will not count toward tier upgrade qualification.
- Bonus points will be awarded to eligible member accounts for eligible bookings within two weeks of the actualized stay, and will be awarded no more than once per stay and once per member.

Bottom Line

If you are planning to staying at a participating property in the US then it can be valuable with the third night free offer. You will also get the free 30,000 points which may be enough for a free night. Please note the points will come within two weeks and will expire in a year.