I'm not thrilled about the devaluation. I think the devaluations in properties (mostly tier 2 to tier 1) is really just window dressing, and won't have any real effect to 90% of Hyatt members.

That being said, I think that if they continue being generous with FFN and BWB type free nights then my stays won't change. If they do tinker with those free nights, then that would cause me to largely abandon Hyatt.

PC has been quite good to me of late, and as a result are getting most of my business. Even when I've tried to give Hyatt money this month, I was mostly stymied. (BKK protests, which they didn't have control of, certainly.)