redbeard: you can now book HH awards online at beta.hilton.com. It's a surprisingly good site :), and I've found availability whenever I've looked for it.

I am also having a hard time figuring this out exactly! Here is the link I found:

https://certificates.hyatt.com/

First click on the Hyatt Certificates stay link. If you then click on the participating locations link they show several hotels with the premier award but I can't figure the list out exactly as some hotels show several different kinds of awards.

Maybe someone can make sense of this!

Seems to be a cash value certificate. The hotel classes are for reference only. So it seems 25,000 Amex MR points gets you a certificate worth $165.

So looking at your previous comparison, is a $165 certificate from Hyatt that costs 25,000 points as valuable as 1 night at a cat 3 *wood costing 21,000? I would say that is comparable.

Any of these MR points are probably better spent on an airline ticket or another award.