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I got an email: IHG co-branded credit cardholders can get a 15% discount on points bookings when booked before Apr. 5 and with check-in before May 12.
The discount is limited to stays of three nights or fewer, which means it cannot be stacked with the stay-four-get-one-free offer.
If you already have a booking for this period, you can cancel and rebook to save some points.
The discount is visible directly on the booking page with no activation required.
This offer is now available to co-branded cardholders. If you are an IHG Platinum or Diamond member, based on the usual pattern, it should start a little later.
You can see the discount right in the booking page (image from OMAAT)