I received an email from TripAdvisor (I guess I had poked around TA, including my stay dates) saying that 'hotel rates in LA have dropped'. It specifically mentioned the Omni, but I figured, what the heck, I'll go look.

The rate for the Ritz had dropped $200 per night for my dates.

Quickly called Ritz Plat reservations, and they lowered my rate by the $200 / night, while keeping the Club Upgrade certificate in place.