We have 4 nights booked at the Park Hyatt Paris-Vendome in August as part of our upcoming anniversary trip to Europe (also visiting London, Venice, and Rome at Starwood properties). I booked this room last year at 22,000 points per night. I recently decided to get the Hyatt Chase card to keep from hemorrhaging point opportunities on hotel stays at Hyatt properties.

For this trip, should I:

1) Keep the reservation as-is at 22,000 points per night?
2) Update the reservation to use 2 free card nights and it automatically re-book the other 2 nights at 30,000 points per night?
3) Use the awards on two nights at the Hyatt Regency Savannah for a planned weekend trip next month that we currently have booked at $150/night?

The second option would result in 28,000 points being returned to me, so 14,000 points per redeemed award (88,000-60,000). I guess the real question is, which is worth more to me: 28,000 points or around $300? Hmm.

I do not foresee me using these awards before they expire next April, so their value is somewhat limited for me.

Another alternative is to do the 2nd option then use some points to extend our P&C stay at the Andaz 5th Avenue in December (w/ DSU attached). This would increase the value of the DSU (by an additional $350).

Okay, any advice welcome...