The number of points a property costs for redemption has nothing to do with how much the property is reimbursed by Hyatt. It's based on occupancy and ADR.

The points cost to the member allows Hyatt to 1) recognize revenue based on its internal accounting valuation of the points and 2) relieve the points liability it carries on its books (also based on the internal accounting valuation). This part is separate from the hotel reimbursement, though it's in Hyatt's interest to find the places where its reimbursement and revenue values are out of whack and bring those into alignment by adjusting the hotel's category or peak/off-peak dates.