Often overlooked, I think. If your a Globalist then in order to make an "apples to apples" value comparison between the PHNY and a place like The Plaza (or an independent) you really have to deduct at least 20% from the PHNY room rate to account for the points, factor in $100 in daily food credit, the value of stay credit, and something for the (likely) upgrade, then add back any loyalty $ you get from the other hotel (which will typically be far less than what Hyatt offers). Bottom line: if room rates are roughly the same a The Plaza, then the reality is PHNY is far cheaper for many of us...