Not sure how good it is, or if useful to anyone. Just received it this morning.
Says up to 50% saving.
Hotels.com Private Sale offers are valid exclusively for Hotels.com email subscribers with a valid Hotels.com account. To access these offers, follow the link in the Private Sale email. Only Hotels.com email subscribers will be able to complete a booking at a Private Sale offer rate. Hotels.com may require subscribers to log into their Hotels.com account to view these offers. This offer is not transferrable.
The Private Sale offers are available at participating hotels only, vary by property and are subject to specific restrictions and blackout dates. Savings shown are based on regular hotel rates available on Hotels.com. Prices include taxes and fees and are subject to change without notice. Actual rates and room availability for a specific date and destination may vary at any time, including prior to completing a booking. Please see each Private Sale offer for complete terms. Offer valid only on new bookings.
The prices are nothing special, of you search on trivago you usually can get the same exclusive members only prices on other websites. Every time I get these emails I get excited, it must be the bargain hunter in me, but there is never anything that isn't available to everyone :(