I'm engaged in a self-designed promo: book up a lot of stays using Hyatt points before Hyatt's new fleece'em award night pricing system starts hitting. I'm counting on that new fleece'em award night pricing system to hit hard with its "peak" pricing vehicle that will be the accelerator on devaluing the points in customer accounts.

Hyatt seems more eager to cut its costs for payouts to the hotels for awards stays. And having a promotion that encourages award stays before the new award pricing scheme hits would run counter to that corporate objective. If we do see a fourth quarter promotion, I wouldn't be surprised if it is tailored to only target -- or to stimulate -- stays on days/dates/periods where business travel demand is way more down than leisure travel demand.