As far as I can tell, Hyatt made a no-notice major devaluation to most of its destination properties. Previously, most of these properties were bookable at the stated category rate and had some great redemptions...I noticed this devaluation because I was about to book a 4BR platinum villa at Top of the Village Snowmass for 70,000 points a night - the cash cost was about $6000 a night.

Now, Destination redemptions are completed on https://www.hyatt-homes-and-hideaways.com/ and are tied to a fixed point value of 1.2 cents per point. Availability more than a couple months out also seems to be greatly reduced. The property I was considering is not even available for booking now, but it would be roughly 7x more expensive per night if it were.

I know this won't affect a ton of people, but it is disappointing how Hyatt rolled this out without any notice that I could find. Anyone else affected or had an idea this was coming? Hyatt twitter confirmed the changes were intended via DM