It’s true that it’s getting harder to find really outsized value per point. In 2024 I had a few stays north of 7¢/pt - that’s already much harder to find today, and it’ll likely get even harder with the new chart.

On the other hand, it doesn’t make much sense for Hyatt to consistently offer 6–8¢/pt redemptions while selling points for ~2.5¢/pt at the same time. Over time, award pricing tends to move closer to the price Hyatt sells points at.

You can still beat the bank, but the margin is smaller now - and it’ll likely shrink further with the new chart. The real “problem” is that WoH is still very attractive for a lot of travel patterns, often more attractive than other hotel programs, so many members will keep engaging even after a devaluation - myself included.

I’m still looking forward to most of my upcoming stays - largely because of Globalist recognition and being treated as a returning guest. At many Hyatt properties they genuinely try hard to make me feel valued, and that level of consistency isn’t the norm these days.