Originally Posted by hhdl

In general across hotel programs (Accor is really the only exception, but that's the most purely revenue rebate program out there: you redeem points for discounts from the revenue rate, period) the points reimbursement correlates to revpar on the particular night (which is more or less equivalent to occupancy times the average rate paid for that night). Basically, Hyatt sees the hotel averaged $X per room that night (counting vacant rooms as zero and ignoring out-of-order rooms) and settles up at something fairly close to that.