Originally Posted by MarkOK

As for lower category redeemers - that is mostly me. I pay cash or points on leisure trips purely based on points vs cash rates ( with points valued at 2 cents per point). Since 2018, I have redeemed 90% of my points at cat 1s-4s because I find on the upper end, hotels are either just too stupid expensive for my tastes, or the points are so high compared to cash that I just pay cash. I love full service hyatts and most of my stays and redemptions are at lower category HRs and GHs in secondary US markets, but I don't really have dreams of aspirational properties. It's overall worked out well from a value perspective.

I would have an easier time to swallow this pill if it hasn't been for the fact that nearly all of the hotels I have usually redeemed at have gone up at least 1 category in the last few years, and are showing a lot more 'peak' rates and lot less 'off peak' rates over the last year. Hotels I was able to redeem at 5K are now very often cat2/9.5K, and now will be up to 15K. Those that were cat3/12K points are now cat4/15-18K points will soon be up to 25K points. That is a doubling to tripling of points over a few years, and these hotels are still often just $100-150 (for the cat 2s) and $150-250 (for the cat 4s) a night usually when I am looking to stay.