It is less “saving money when you book direct” and more “losing money when you book through Hyatt”. There are often cheaper ways to get the same benefits so you’re really paying for the points and EQNs. I don’t think it’s worth it but to each their own.

This is just another way for loyalty programs to sucker unsuspecting ”loyalists” into paying more money for a negligible return. The booking to hotel relationship here is basically at OTA-level lol (but it seems like they share more guest data and release inventory differently).

IMO, the people booking SLH through WoH are subsidizing the program for the rest of us. I can’t complain too much about that but I also can’t recommend anyone actually book this way in good faith unless there are very specific circumstances.