Hyatt has shown the travel industry how to handle devaluations or award modification rates – give some good changes along with the bad. One of those good changes was the addition of the Points+Cash redemption rate that gives the option to lessen the point requirement with cash while allowing these rates to count towards elite status. Another is the unveiling of the new My Elite Rate.
My Elite Rate
The terms for the new elite rate can be found here. This new rate reduces the amount of the daily rate by 20% at Hyatt hotels for Hyatt Platinum and Diamond members. To have the new rate offered, you must be signed into your Hyatt account as a Platinum or Diamond member. The rates offered are not transferable.
Whenever I book a hotel that I am not using points for, I am booking it at the advanced purchase rate and never even look at the daily rates or rack rates because they cost more than I am willing to spend. This new My Elite Rate now acts as an equalizer for this since it brings it in line with regular advanced purchase rates, or, in some cases, actually makes it to be cheaper than the advanced purchase rate. This is huge because the advanced purchase rate does not allow refunds or changes. With the My Elite Rate, you can cancel or make changes to it without losing the money or having to pay early.
Booking My Elite Rate
Here is another great thing about this new rate – it is simple to book! You do not have to call in and book it, it shows up and can be booked just like any other rate! This makes it incredibly easy to do and does not require any additional steps.
How to be eligible for the My Elite Rate
Anyone that is a Hyatt Platinum or Diamond is eligible for this new rate. The good news for Hyatt Chase card holders is that you are eligible (cardholders receive Platinum status as long as they hold the card)! I am a Hyatt Platinum member by being a cardholder and the rates show up and are bookable for me. This adds some good value to the card and may help people with the decision over whether to hold it after using the 2 free nights the card offers (for me, the anniversary free night is enough of an incentive to keep the card).
If you would like to get the Chase Hyatt card, here is the application link. I do not receive a commission for this card.