Maybe they are running this promo because of an end-of-year drop-off in stays from people like me:
I’m at 57 nights, but have been putting my stays since then on different brands so that the cat 7 certificate that I get when I cross 60 won’t expire until after late March. So far, Hyatt has lost 10+ of my nights this year to Marriott/SPG simply because of the 120 day expiration they have on their certs.
This promo is tempting, but not tempting enough to dissuade me from getting $1000+ in value from my free night cert at PHNY this March...