You win some, you lose some. I recall the conversion working in my favour in Europe last year.

But in general, do we really want individual hotels using some made-up, commission-padded, FX rate on the day? Which might then end up Dynamic Currency Converted back to USD at an even worse rate if you're not vigilant when paying?

I'd rather Hyatt just tell me the local currency rate at the time of booking. (current practice, although they could update the rates more frequently) Now that I think of it, it's probably illegal in many countries to have the hotel room rate change in local currency terms post-booking.