Do ghost stays harm the individual property where the ghost stays happen? No.

The ghost stays harm every non-ghost traveler that now has to both a) pay higher prices at these properties and b) has their benefits diluted at other properties due to customers who get benefits when they shouldn't? 2x yes.

Ghost stays would ONLY benefit those properties that have extremely cheap rates because they get to sell them, and the 0.1% of Hyatt travelers who want to game the system. The rest of us, and the rest of Hyatt properties suffer.

And OP selectively quoting posts and "Hyatt hasn't stopped it, therefore they endorse it" faulty conclusions dont help the argument. There are many, MANY faulty conclusions being made.

Indeed it would be equal to just selling Globalist for X money, something that would definitely hurt "organic" elites and properties where the elite benefits are actually worth something.