Katie Genter is a digital nomad who has traveled full time since June 2017. She writes and edits stories about points and miles, and loyalty programs, often letting her personal experiences color these stories.
June 22, 2026 • 8 min read
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Quick summary
A major travel rewards program is reducing its transfer ratio to a popular hotel loyalty program for select cardholders, making hotel redemptions more expensive.
This change means some cardholders will need to transfer significantly more points to book the same hotel stays, increasing the effective cost of redemptions.
Cardholders may need to reconsider their strategy, as other transfer partners may now offer better value.
What to consider
Only cardholders of select cards will see the reduced transfer ratio.
You must transfer points in increments of 1,000, which can further impact small redemptions.
Based on TPG's June 2026 valuations, the additional points required for some stays represent a substantial dollar value.
What you'll miss from the article
Detailed calculations showing how much extra spending is needed for various hotel awards under the new transfer ratio.
Generated by AI with support from our editorial team.
As a Sapphire Preferred Card holder, I'm bummed about the reduced Hyatt transfer ratio and wanted to quantify the impact of this change.
Here's what you should know about the reduced transfer ratio and how it will affect the amount you need to spend on your card to earn the same Hyatt stays.
: Earn 75,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
New Chase-to-Hyatt transfer ratio
If you applied for the on or after June 15, you'll already have the reduced 4:3 transfer rate if you transfer Chase points to Hyatt.
But if you applied before June 15, you'll continue to get a 1:1 transfer rate until Oct. 1, when your Chase-to-Hyatt transfer ratio will also drop to 4:3.
Why this matters for Sapphire Preferred Card holders
Hyatt House Johannesburg Sandton in South Africa. KATIE GENTER/THE POINTS GUY
For example, whereas at a 1:1 transfer ratio you'd only need to transfer 30,000 Chase points to book a 30,000-point Hyatt award, at a 4:3 transfer ratio you'd need to transfer 40,000 Chase points to book the same award.
Based on TPG's June 2026 valuations, these additional 10,000 Chase points you'd need to transfer are worth $205.
Examples of how many more Chase points you’ll need
To illustrate the impact of the reduced 4:3 transfer ratio for Chase-to-Hyatt transfers, let's consider three stays.
Firstly, let's consider a long-weekend stay at the Andaz Savannah that costs 20,000 points per night. With a 1:1 transfer ratio, you'd only need to transfer 60,000 Chase points. But under a 4:3 transfer ratio, you'd need to transfer 80,000 Chase points. The extra 20,000 points you'd need to transfer are worth $410 based on our valuations.
HYATT
Now, let's consider a redemption I book several times each year: a one-night stay at a Hyatt Place in Atlanta (with complimentary airport shuttle service).
If this hotel costs 4,500 Hyatt points on the night I need to stay, I'd need to transfer 5,000 Chase points at a 1:1 ratio or 6,000 Chase points at a 4:3 ratio (since you must transfer in increments of 1,000 points). So, even for a one-night stay at a Category 1 Hyatt hotel, this decreased transfer ratio makes a difference.
HYATT
Finally, let's consider a five-night stay at an aspirational Category 7 Hyatt that costs 30,000 points per night. With a 1:1 transfer ratio, you'd need to transfer 150,000 Chase points to Hyatt to book this stay.
HYATT
But, with a 4:3 transfer ratio, you'd need to transfer 200,000 Chase points. The extra 50,000 Chase points you'd need to transfer under a 4:3 transfer ratio instead of a 1:1 transfer ratio are worth $1,025 based on our valuations.
What does that mean in everyday spending?
Another way to think about the change is how much more you’ll need to spend to earn the same Hyatt vacation.
As a reminder, purchases with the earn as follows:
5 points per dollar on all Chase Travel℠ purchases, including flights, hotels, rental cars, vacation homes, cruises, activities and tours
5 points per dollar spent on Lyft rides (through Sept. 30, 2027)
5 points per dollar spent on eligible Peloton equipment and accessory purchases over $150 (through Dec. 31, 2027; limit of 25,000 bonus points)
3 points per dollar spent on gas and EV charging
3 points per dollar spent on vacation homes at these top brands: Airbnb, Vrbo, Plum Guide, HomeAway, Homestay.com and Vacasa
3 points per dollar spent on dining, streaming services and online groceries (the elevated earning rate for online grocery store purchases excludes Target, Walmart and wholesale clubs)
Hyatt Place Melbourne / Palm Bay in Florida. KATIE GENTER/THE POINTS GUY
Each consumer is different, so you'll need to calculate based on your own spending habits. But, to see how this plays out, let's consider three different spending profiles:
Single-card user: 5 points per dollar on 5% of purchases, 3 points per dollar on 20%, 2 points per dollar on 10% and 1 point per dollar on 65%
Bonus category optimizer: 5 points per dollar on 15% of purchases, 3 points per dollar on 55% and 2 points per dollar on 30%
3-points-per-dollar-or-better user: 5 points per dollar on 30% of purchases and 3 points per dollar on 70%
Spending required
By the single-card user
By the bonus category optimizer
By the 3-points-per-dollar-or-better user
For a 4,500-point Hyatt stay
$2,648 (1:1 ratio)
$3,530 (4:3 ratio)
$1,500 (1:1)
$2,000 (4:3)
$1,250 (1:1)
$1,667 (4:3)
For a 60,000-point Hyatt stay
$35,295 (1:1)
$47,059 (4:3)
$20,000 (1:1)
$26,667 (4:3)
$16,667 (1:1)
$22,223 (4:3)
For a 150,000-point Hyatt stay
$88,236 (1:1)
$117,648 (4:3)
$50,000 (1:1)
$66,667 (4:3)
$41,667 (1:1)
$55,556 (4:3)
As you can see, the difference between a 1:1 Chase to Hyatt transfer ratio and a 4:3 ratio is huge when it comes to the amount you'll need to spend on your Chase Sapphire Preferred for a stay.
Should Sapphire Preferred Card holders still transfer points to Hyatt?
The reduced Chase-to-Hyatt transfer ratio makes it much less appealing for holders to transfer Chase points to Hyatt.
While it may still be valuable to transfer Chase points to Hyatt at a 4:3 ratio to top off your Hyatt account for a redemption or snag a high-value Hyatt redemption, Sapphire Preferred cardholders should seriously consider whether other Chase transfer partners they can still access at a 1:1 ratio provide more value.
Caption by Hyatt Central Sydney. KATIE GENTER/THE POINTS GUY
If you applied for the Sapphire Preferred before June 15, you still have access to 1:1 Chase to Hyatt transfers through Sept. 30. But, after that point, all Sapphire Preferred cardholders will face a reduced 4:3 Chase to Hyatt transfer ratio.
As you can see in the previous sections, this reduced transfer ratio has a significant impact. As such, Sapphire Preferred cardholders may want to consider another way to earn Hyatt points.
And cardholders who are accustomed to transferring most of their rewards to Hyatt may want to add the (see rates and fees) or the (see rates and fees) to their wallet. You can combine your points earned on the Sapphire Preferred with these two cards and transfer them to Hyatt at a 1:1 ratio.
Bottom line
The drop from a 1:1 to 4:3 Chase-to-Hyatt transfer ratio is a meaningful devaluation for holders who frequently transfer Ultimate Rewards points to World of Hyatt.
Put simply, you’ll need one-third more Chase points — and therefore significantly more card spending — to book the same Hyatt awards with a 4:3 ratio instead of a 1:1 ratio.
: Earn 75,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
Hyatt is still a worthwhile Chase transfer partner in some cases, especially if you only need to top off your account or find an especially high-value award. But Sapphire Preferred Card holders should run the numbers more carefully going forward and consider whether another Chase transfer partner, a Hyatt credit card or a Sapphire Reserve product offers better value.
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
