I stayed here during the transition period and I could see some staff learning the new system. I was promised one night credit each with SPG and Hyatt but I couldn't get SPG to post since it has already left their system. 

Overall, a great hotel right in Sydney's CBD and defintely welcomed in addition to the PH Sydney.

Check In

Newly renovated lobby and check-in was efficient (I checked in as a SPG Platinum and my stay was during the transition). 

Room

Room was newly renovated but if you have stayed here when it was a Four Points, the rooms are exactly the same as Four Points. I stayed here a few times for the past couple of years and the room has not changed. having that said, the rooms are modern and Harbour view rooms have amazing views of Darling Harbour.

The Maritime Studios (or Suites) during the 4P management are great - and they offer almost floor to ceiling glass windows along with a patio. 

Dining

Diamond breakfast is at the restaurant (full buffet) and there was a wide variety of food and the quality was great. There were a lot of fresh fruits, pastries, cereal/muesli, cold cuts, made-to-order eggs, fresh juice, and hot food items (including Asian and Western options).

My highlight was the barista coffee that serves all types of coffee (espresso, flat white, piccolo latte, long black etc.). 

Location

It is right at Darling Harbour and only a few minutes walk to Queen Victoria Building. It took me about 15-20 minutes to walk to the Rocks/Circular Quay/Opera House area and about 5 minutes walk to Town Hall train station (for trains to/from SYD and suburbs).