I will say one other thing - to me, this makes the premium credit card from Chase even more likely and boosts the likelihood that it will have higher earning rates. Look at what is going on with United - earn rates have gone down unless you have a CC in which case they are going up. If redemption rates are going up, then Chase is going to want to attract more people to spend on their cards and could do that by boosting earning rates in conjunction with Hyatt. Of course, that doesn't mean it's a net positive for the end consumer, but it feels more likely now after this announcement.