This is all very explicit in the
HGP Terms and Conditions:
8. Diamond members will receive a complimentary welcome amenity consisting of the following: at Park Hyatt, Grand Hyatt and Hyatt Regency properties in the U.S., Canada and Caribbean; a choice of 1,000 bonus points or a food and beverage option (amenity selection is at the hotel's discretion); at Park Hyatt, Andaz, Grand Hyatt and Hyatt Regency properties outside of North America a Food and Beverage amenity will be provided; at Andaz hotels within North America; a choice of a locally inspired amenity, $15 USD food and beverage credit or 1,000 bonus points; at Hyatt Place a choice of 500 Hyatt Gold Passport bonus points or a complimentary beverage (void for alcoholic beverages where prohibited) and Hyatt House a choice of 500 Hyatt Gold Passport bonus points or a $5.00 USD Guest Market credit; and at Hyatt Residence Club Resorts 500 bonus points will automatically be awarded.
Summary:
Full Service brands in North America: 1000 points or F&B amenity
Outside North America: F&B amenity
Limited Service brands: 500 points or beverge/$5 credit