Originally Posted by Dr Jabadski

5,000 points can frequently and easily be leveraged to much more than 2 cents per point (or $100). One excellent example, this ski season Grand Hyatt Vail (plain ole regular room) rates were anywhere from $600 to $1200 depending on date and date booked but available almost anytime for 25,000 points (equivalently $0.024 to $0.048 per point or $120 to $240 for 5000 points).

I haven’t used a Hyatt GC for several years but IIRC like most other GC it’s simply another form of payment (CC, cash, GC), doesn’t affect any charges, so yes, would pay taxes. Unlike a FNA award which is ostensibly fully inclusive.

FWIW, I just called my MHC to ask about another long-standing problem (missing AA Hyatt Dual Accrual miles) and added this question as a BTW. Reply was FIND was suspended/cancelled prior to COVID and no, they are not crediting points in lieu of.

(Obviously none of my comments are intended to be definitive.)