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Now through August 31, 2012, Hyatt is offering bonuses between 10-30% on purchased Gold Passport points (for your own account, you can’t buy them for someone else).
Crunching the Numbers
Here’s how it breaks down:
-Buy 1,000 – 9,000 points and get a 10% Bonus
-Buy 10,000 – 29,000 points and get a 20% Bonus
-Buy 30,000 – 40,000 points and get a 30% Bonus
Normally, Hyatt points cost 2.4 cents each. With this promo, however, when you purchase 9,000 points, you get 9,900 for $216, so 2.2 cents each. When you buy 29,000, you receive 34,800 points for $696, so 2 cents each. Now we’re getting somewhere. Finally, when you purchase 40,000 points, you get 52,000 total for $960, or 1.85 cents apiece. You can only purchase up to 40,000 Gold Passport points for yourself a year.
As usual, it rarely makes sense to make a big points purchase if you don’t have a specific award stay in mind. Especially since even at 1.85 cents, these might be a bit overpriced. However, if you have a particular award stay you’re gunning for and not upcoming opportunities to earn Hyatt points, purchasing enough points to top up might make sense.
There are a couple other cases where I would think about it personally as well. With this promo, you could buy 34,000 points for $816 and get an additional 10,200 for a total of 44,200, enough for two free nights at any top-tier Category 6 hotel such as the newly reopened Park Hyatt Sydney, where rooms are going for $770 a night. So instead of paying $1,540, you’d be saving $724…almost a 50% discount.
On the other hand, if you wanted to stay at a Category 4 property such as the Hyatt Regency Orlando, you’d need 15,000 points. That would cost you $336 (you’d pay for 14,000 and get 2,800 as a bonus). Rooms at this hotel are going for just $170 a night though, so you’d actually be paying double!
Buying a few extra thousand points to top up to the closest award level might make sense, as would redeeming for free nights at Hyatt’s top-tier hotels and resorts since, in general, those are some of the best redemption options out there. However, I would always caution you to check the rates at the specific property you are interested in and see if purchasing points makes sense for your particular situation. Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.
Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.