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World of Hyatt members have a new option to save a bit of cash when booking one of the chain’s properties around the world. The new Member Rate Advance Purchase is now available at all of Hyatt’s 700+ hotels, offering up to 15% off when you book at least 14 days prior to arrival.

At the Park Hyatt St. Kitts, where you could also save more by taking advantage of special promotions, the new rate offers the lowest available price.

In fact, the rate ended up offering a savings of 20% compared to the standard offering — higher than the 15% advertised. The savings can be far less significant on other dates, though.

Note that this new advance purchase rate is entirely prepaid and nonrefundable, so you should only ever consider that option if you’re certain that your plans won’t change. Otherwise it could make more sense to book an ever-so-slightly higher rate — say, AAA — instead.

Over the holidays you’ll only save a small amount relative to the sky-high room pricing, for example:

As always, be sure to read the rate rules very carefully. Some properties have especially unforgiving policies that could land you in hot water even if you’re booking a rate that would ordinarily be entirely refundable elsewhere. At this hotel, the AAA rate for that peak holiday stay must be canceled 90 days in advance for a refund.

It always makes sense to check the award rates, too — in this case, with the lowest prepaid rates at $320, 30,000 points per night doesn’t make a whole lot of sense, considering TPG’s latest valuation of 1.8 cents per Hyatt point. Still, in some cases, you could come out far ahead by using your points, so don’t rule out that option just because of the potential savings with this new prepaid rate.

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Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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