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About two weeks ago Hyatt announced a limited time offer which allows you to purchase Hyatt Gold Passport points with a 40% bonus (this offer ends tomorrow night, January 31, 2015. Unfortunately though, this offer is only available for those that purchased points in 2014. So it is a slightly limiting offer, although a decent offer for those that can take advantage. If you are not sure if you qualify, you can enter your Hyatt Gold Passport number in the purchase points page to see if you are in fact eligible. If you are eligible, here are my thoughts on the promotion. Typically, I do not think purchasing points is worth it, but with this bonus and at a few select hotels, it can absolutely save you a boat load of money. To purchase points cost 2.4 cents/point and the maximum amount that can be purchased each year is 55,000 points (plus the bonus).
So let’s say you go all in and purchase the full 55,000 points you will end up with 77,000 points for a total cost of $1,320. If you just want to purchase a few points, you will still get the 40% bonus which is great. This is actually the best promotion we’ve seen in a really long time and it is not tiered, which is great. The last promotion late in 2014 was an “up to 30% bonus.”
When can purchasing points be valuable? I personally just used Hyatt Gold Passport points to redeem a four night stay at the Park Hyatt Beaver Creek. This is a high end results and requires 30,000 points for a free night. While this is a lot of points to redeem for a free Hyatt night, it was much better than paying the nightly rate at the hotel!
Now, I am sure you could have gotten this resort for a lot less if booked well ahead of time, but at the given scenario, using points is a great value! The paid rate is actually $1,158/night once you add in all the taxes and resort fee. When making an award reservation for this property you also do not pay the resort fee (which is $50/night). So I am getting a 3.86 cents per point value. With the current promotion you can ultimately purchase points at 1.71 cents per point. That means the 30,000 points required for this particular hotel will cost you a little over $500. This is far better than the nightly rate that I am seeing!
Another great example of when purchasing points is worthwhile is for the Hyatt Escala Lodge which is on the ski slope of The Canyons in Park City. It is a category 4 hotel so your points will go much further than the Park Hyatt Beaver Creek resort. And while I haven’t been to Beaver Creek yet, I’ve stayed at the Hyatt Escala Lodge and thought it was great! For this hotel you need 15,000 points to redeem for a free night or it can go for about $500/night. Purchasing 43,000 points with a 17,200 bonus (netting you 61,100) will cost $1,031 or $252/night for the four free nights! This is also a great value!
Overall… If you know of any upcoming plans, I would absolutely look into the option of purchasing points (if you are eligible) and see if it worth it. However, I would probably steer away from purchasing points without having a redemption destination in mind. The reason for this is, as we all know, categories can change at any times, thus requiring more points. Although, I do not foresee any big changes in the near future – but you never know!