My burning on Hyatt properties has been manly Cat 7 and Cat 8, and as a non-American I’ve had to earn 100% of my miles through Hyatt hotel spend.

Given the relatively limited breadth of the Hyatt portfolio, I don’t think that it makes sense any more if I’d be looking at a 40%+ devaluation in rates. I’ll sit back and assess for a few months, but I think that the Hyatt value prop might have turned sour for foreigners.