Originally Posted by
WasKnown
The $200 FHR credit has also coerced me to use FHR when I wouldn't have otherwise (vs. a legit preferred agent). However, if you do a few preferred agent bookings a year, it's probably best to save your FHR stays for a time when FHR is actually pricing the same vs. other options.
If only 1 stay works for you with FHR a year, fair enough. However, if FHR is more expensive than the alternate preferred agent you would have gone with otherwise, you're not really getting a $200 credit. You're getting $200 - Amex's margin (and whatever prepayment discount you want to include). Probably shouldn't the deal-breaker between keeping and cancelling the card but these differences really add up for people with multiple players that have multiple Platinum flavors.
I renewed my plat under the old annual fee, so really this hotel credit wasn't a factor at the time (dunno if I will keep plat at higher AF). I just realized I had it when doing my bookings and being I was planning on a paid stay anyway I did the math and came out ahead. Just pricing it out now I'm saving $98 a night off the hyatt rate and that that doesn't factor the amex credit or the $100 statement credit. In terms of value I'm pleased with it. The free breakfast was quite good. I have minimal hyatt status so it works out well for me [globalist would get less return since they have some of the benefits already]. Also I don't know with the pandemic if I will get to travel again this year, so I wasn't worried about saving the amex hotel credit. Besides if I go somewhere where prices are high I will be looking to use points. The lower prices in Dubai right now make most award redemptions a poor value hence I switched to all paid stays. On the other hand I ran the numbers to use FHR at a Conrad where I have diamond status and it was a losing proposition, same with impresario which was higher than the Hilton rate. I found FHR gave a better return on the Waldorf though saving me maybe $140 over three nights, but I ended up opting for another hotel.