Seems like others already answered the question. But for me, I value Hyatt points at a minimum of 1.5c. Plus you have to look at how many points, you would be getting in return for paying all cash it helps better to understand what to spend.

I made up a chart for this and for a category 1 hotel and using Hyatt CC or Amex Biz CC, the hotel would need to be a minimum of $90 for C+P to be a better deal.