I haven't stayed at a RC yet but according to the details:

"Hotel Credit:
Hotel credit available at participating hotels for paid stays using The Ritz-Carlton Rewards Credit Card, when booking this offer and requires a two-night minimum length of stay, subject to availability. Credit is nontransferable or combinable with other offers, consecutive reservations in the same hotel are not valid, and advanced reservations are required. Credit must be used during original reservation, no cash back, and may not be applied to room rate or hotel goods or services provided by a third party. Not valid on room rate, alcohol, taxes or gratuities. Chase Bank USA, N.A. is not responsible for offer fulfillment or the provision of or failure to provide the stated benefits and services. Does not apply to group bookings."