It depends on what you prioritize.
If you want no out of pocket cash, then obviously Hyatt CC + UR transfer accomplishes that. The Holiday Inn seems to get a slightly better rating on tripadvisor (#15 vs. #19) though I don't think you'll get the same luxury experience that you would at the Grand Hyatt. The Grand Hyatt also won a tripadvisor award, which the HI didn't.
You'll spend 44k points for the two nights -- Category 5 is 22k per night -- so factor that in as well. You're effectively paying 88k points for the four nights (because the two nights "saves" you 44k UR points) vs. 80k + $$.
I can't imagine a scenario where I'd stay at the Holiday Inn under these circumstances.