I agree too. In the spirit of compromise, as long as whatever merchandising program would be created does not devalue or otherwise impact the traditional points <-> stays redemption, I wouldn't object -- athough I'd never use such an option, myself. However, I can't imagine that such a program wouldn't impact the traditional point redemption in some way; just the administrative costs alone would pile up.

But, for those who accumulate points and can't (or don't want to) use them for hotel nights, having several options to get rid of them would probably be fair -- give (sell?) away to another member, use as credit on F&B charges, spa or activities, donate to charity, buy a Hyatt gift card (despite the hassles redeeming), Camp Hyatt, hotel charges your company would never pay for, etc... Didn't Hyatt use (?) to have auctions or something to use points on? It's been awhile since I saw one...

Personally, I agree with the others -- points allow me to stay in great locations and for lengths of time I could never afford, on much needed vacations when I want to stay for me, not my company! I ain't trading them for more gadgets.