Hyatt’s Mr & Mrs Smith hotels get dynamic pricing: Here’s what you need to know

In 2023, Hyatt acquired Mr & Mrs Smith hotels — a portfolio comprising more than 700 luxury and boutique hotels. This exciting new partnership adds 20-plus countries, including Fiji, Namibia and the British Virgin Islands, to Hyatt's global portfolio.

On Wednesday, the independent properties began being integrated into World of Hyatt's network, meaning travelers can start redeeming Hyatt points when booking at nearly 100 Mr & Mrs Smith hotels (based on Hyatt's map of participating properties). However, unlike Hyatt's traditional way of booking hotels using an award chart to track how many points per night a stay will cost, Mr & Mrs Smith hotels will be dynamically priced. Therefore, they will not be using a set award chart for redemptions, a setback for guests hoping to maximize their Hyatt points.

We were terrified that this meant Hyatt might be moving towards a dynamic pricing model, but we've been assured that is not the case and that these properties are the exception to the rule. Unfortunately, however, it does mean it will be tougher to squeeze excess value from World of Hyatt points used at these hotels.

Keep reading to find out more about booking Mr & Mrs Smith hotels with Hyatt points, including how to earn points and elite status benefits.

Related: Hyatt's Mr & Mrs Smith partnership goes live with more than 700 boutique and luxury hotels

Book Hyatt's Mr & Mrs Smith hotels with points but no award chart

Hyatt properties operate using a set award chart — defined by Category 1 through 8 — that shows how many points per night rooms will cost. However, with Hyatt's latest acquisition, Mr & Mrs Smith hotels will use dynamic pricing. This means that cash and points prices will fluctuate, usually depending on several factors, including time of booking (if it's the peak or off-peak season) and availability (if the hotel is mostly booked).

TPG values Hyatt points at 1.7 cents per point, meaning you'll want to try to get at least that value (preferably greater) when you're redeeming your points for a Hyatt hotel stay to maximize your points. For example, a room at the Park Hyatt New York could easily cost you upward of $1,000 per night. Or, you could opt to redeem 45,000 points, which means you'd get at least 2.2 cents per Hyatt point, a great value.

But at Mr & Mrs Smith hotels, our research indicates that Hyatt members can expect to get less than 1.5 cents per point.

For example, the Hotel Bellevue Dubrovnik in Croatia will cost you about 592 euros ($633) or 63,000 Hyatt points per night. This will only yield you about 1 cent per Hyatt point, a poor redemption offer if you're looking to get the most out of your Hyatt points.

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Hotel Kompas Dubrovnik in Croatia will cost you about 360 euros ($385) or 31,500 Hyatt points per night, giving you a redemption value of about 1.22 cents per point. Again, that rate is not great.

Naxian on the Beach, an adults-only hotel in Greece, is currently available for 200 euros ($214) or 20,250 points per night, which gives a redemption rate of about 1.06 cents per point.

The ultraluxurious, all-inclusive hotel Vomo Island Fiji will set you back about $4,463 or 364,750 points per night, which gives you a value of about 1.22 cents per point.

The Octant Furnas hotel in Portugal costs 230 euros ($246) or 20,250 points per night for a standard or double twin room. (Note: The Terrace Pool Room is available to book with cash but not with points.) This will get you a redemption rate of about 1.21 cents per point.

While Hyatt claims all Mr & Mrs Smith properties available at a cash rate will also be accessible to book with points, I have not found that to be the case. For example, several different room types are available to book with cash at the Hotel Bellevue Dubrovnik, but only one is available using points. And interestingly enough, the room type for award stays varies based on availability — but it's always the lowest-priced room.

For example, for the night of Sept. 3, you can book a Classic Partial Sea View room using points. However, on Sept. 13, only a Superior Room is available on points. And then on Oct. 10, only a Classic Room is bookable as an award stay.

It's unclear if this is how redemptions will work moving forward or just a current limitation given how new the partnership is.

You also cannot use free night award certificates when booking Mr & Mrs Smith hotels.

While Mr & Mrs Smith properties are a great addition to Hyatt's portfolio, especially since they expand Hyatt's presence to 20 more countries, don't expect to maximize your Hyatt points when redeeming for these hotels. As an avid Hyatt booker, I find it a bit disappointing to see that this brand will operate using dynamic pricing instead of following Hyatt's standard practice of using an award chart.

Thankfully, Hyatt assures TPG that it has no plans to follow other brands (like Marriott and Hilton) in shifting to dynamic pricing across its portfolio.

"Members shared the challenges with lack of redemption availability at similar relationships — we've changed that with Mr & Mrs Smith. While Mr & Mrs Smith hotels fall outside the standard award chart, this opens up an increased inventory and more flexibility for travelers looking to use points during specific dates," Laurie Blair, Hyatt's vice president of global marketing, told TPG. "This is not a move toward dynamic pricing, and hotels in the Hyatt portfolio will continue to fall in either the standard or all-inclusive award charts."

How to earn points at Mr & Mrs Smith hotels

Though Hyatt will not allow travelers to use free night award certificates when booking Mr & Mrs Smith properties, there are some similarities in points-earning potential for Hyatt members.

You will earn 5 base points for every eligible dollar spent on room rates and bonus points on eligible room rates for elite members. For example, if you have Hyatt elite status, you will earn the following bonus points on your stay:

• Discoverist: 10% bonus (0.5 extra points per dollar spent)
• Explorist: 20% bonus (1 extra point per dollar spent)
• Globalist: 30% bonus (1.5 extra points per dollar spent)

Members will also receive credit toward earning tier status and Milestone Rewards, credit toward a Brand Explorer award (which allows guests to earn a free night for every five unique Hyatt brands you stay at), and room upgrades for Globalist members at check-in (based on availability).

At this time, members will not earn Hyatt points for meetings or events hosted at Mr & Mrs Smith properties, and they will not count as a qualifying event within the Hyatt program. World of Hyatt Credit Card and World of Hyatt Business Credit Card holders will also not earn bonus points when using their card at Mr & Mrs Smith properties.

Finally, be sure to check paid rates on other sites for these hotels and resorts. If you can snag a lower price by booking directly with the property or via an online travel agency, that may outweigh the value of the points you'd earn with Hyatt.

Elite status benefits with Mr & Mrs Smith hotels

Whether you hold elite status with World of Hyatt or are a basic member, those booking Mr & Mrs Smith properties will enjoy a "Smith Extra" perk, which can include welcome cocktails, late checkout or even a complimentary sauna visit.

Unfortunately, Hyatt elite members will not receive all of the benefits they would at other Hyatt properties, such as preferred rooms, complimentary premium internet access, dedicated check-in and checkout, guaranteed room availability, late checkout, and club access.

In addition, Globalist members typically receive free breakfast, but that won't be the case at Mr & Mrs Smith hotels.

However, this likely isn't the final iteration of the partnership.

"We are continuing to evaluate ways to enhance guest experiences and member experiences, especially for our most valued elite members," Blair said during a press conference. "So, this is just the start of the of the relationship with Mr & Mrs Smith."

Since this partnership just went live on Hyatt's site, we wouldn't be surprised to see more elite status benefits unveiled in the near future.

Bottom line

Integrating some Mr & Mrs Smith hotels into Hyatt's portfolio opens up the opportunity for travelers to book in 20 more countries — and the chance to earn and use Hyatt points in the process. Unfortunately, the award rates are a bit of a letdown. We've found that most redemptions will only allow you to receive less than 1.5 cents per point, less than TPG's valuation of 1.7 cents.

Plus, if you're a Hyatt elite member, you may not be thrilled with the lack of elite status benefits that Mr & Mrs Smith hotels offer.

Unless you're saving up for a massive redemption at an ultraluxurious property only offered within the Mr & Mrs Smith portfolio, it's probably worth using your Hyatt points on stays that operate under the standard award chart pricing — and pay for your Mr & Mrs Smith stay with cash to earn Hyatt points instead.

If you're looking to pay cash and earn Hyatt points, we recommend using a travel rewards credit card, such as the Chase Sapphire Preferred® Card, which earns 2 points per dollar spent on travel purchases, or the Chase Sapphire Reserve®, which earns 8 points per dollar spent on purchases made through Chase Travel℠ and 4 points per dollar on flights and hotels booked direct. These Chase Ultimate Rewards points can then be transferred to your Hyatt account at a 1:1 ratio.

Related reading:

• The best credit cards to reach elite status
• What is World of Hyatt elite status worth?
• Which credit cards offer the most lucrative rewards for hotel stays?
• What are the best hotel rewards programs in the world?
• Best hotel credit cards