Hyatt announced some changes that will come into effect before the end of May. This will include a brand new award chart that splits the 8 categories into 5 pricing bands. You can read more about the new Hyatt overhauls here.
Breaking news: Hyatt takes us to the heartbreak hotel
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(00:51) – New award chart
(05:28) – Hyatt intends to maintain value and maintain an award chart
(17:24) – Bright spots
(27:08) – Does this change how we view our Hyatt points?
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Music Credit – “Ocean Deep” by Annie Yoder
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Just to clarify, individual properties don’t set their point cost, do they? You referenced “property-level” decisions on points cost and it’s always been my impression that Hyatt (and other major chains) reimburses properties for award stays based on occupancy and cash rate, not on the points price. So individual property owners (since Hyatt owns very few of the properties) have a big say in the cash rate (with input from Hyatt), but the property owner doesn’t care if the points cost is 5k or 55k for the night, since he/she is getting reimbursed the same regardless. Hyatt corporate cares about the points cost and the manner/cost in which they are redeemed given that points are a liability on their books, but Hyatt points don’t directly affect property-owners’ financials (only dollars from Hyatt or customers do).
I posit Hyatt is going to peg hotels at having the points rate translating to a minimum of at least 1.6 cents (or 1.4 or pray for 1.8!).Cat 4 top of 25k = $400, cat 6 top of 40k = $640, cat 8 top of 75k = $1200. A system like this is how they’d be confident that hotels won’t always post top (unless they’d fill up at that rate anyways). They probably don’t want to say that part out loud because effectively that’d be an admittance of dynamic pricing.
Probably bc the post is still new, but the video is flagged as Private.
Same
Thanks for commenting. Fixed that!