Book These Hyatt Properties Now Before Award Costs Go Up in May

Your Hyatt points could soon lose value — especially if you plan to redeem them at high-end properties.

World of Hyatt announced sweeping changes to its award chart in February 2026, including the introduction of new pricing tiers that will make many award stays cost more. These changes will go into effect in May 2026.

Unlike the no-notice devaluations we’ve seen with other hotel brands, Hyatt’s announcement gives you time to book stays before the changes take effect. And since canceling an award stay is generally free, there’s usually no harm in preemptively booking a stay now that may cost more later. Personally, I’m looking to book stays at the Park Hyatt Kyoto and Park Hyatt Niseko for a trip to Japan in winter 2027.

Hyatt’s Category 7 and 8 properties are its most aspirational, including many iconic, ultra-luxury destinations. These high-end hotels will likely see the steepest declines in redemption value, as award costs increase for most stays.

Hyatt’s new award chart will have five tiers per category, rather than three. It also renames the tiers — for example, today’s middle tier is called “Standard,” and the new middle tier is called “Moderate.” Most stays will soon come with higher point prices, with high-end properties that have historically delivered outsized redemption values seeing the biggest increases. For example:

For the highest-demand nights, award rates will rise even further.

When point costs increase and the cash prices stay the same, the redemption value you get from each point drops.

To estimate the potential impact, Gondola’s analysis took the points cost for a Moderate-tier stay in the new pricing bands and divided that by the median cash refundable price for several properties.

Based on that analysis, here are some popular properties that will likely offer lower-value redemptions starting in May.

One of the most aspirational properties in Hyatt’s portfolio is the Park Hyatt Paris – Vendôme, which has a median cash price of $1,698 per night. Under the current award chart, the median point value for an award stay is 4.2 cents. But based on Gondola’s data, the same stay could drop to 3.1 cents per point when the hotel is priced in the new Moderate tier, assuming median cash rates hold steady. That could be a decrease of 26%.

“The hotel is in a great central location, just steps away from Place Vendôme and close to Jardin Des Tuileries and Palais-Royal,” says Hanah Cho, BW’s vice president of content, recounting her recent award stay. The Jardin Des Tuileries, a centuries-old public garden, is bordered by the Seine River and the Louvre Museum, giving hotel guests easy access to some of the most beautiful and historic parts of Paris.

“The service was impeccable and the staff was so helpful,” Cho adds.

If you’re heading to Italy, you won’t do much better than the Park Hyatt Milan.

“It’s hard to beat the Park Hyatt in terms of location,” says BW travel writer Benjamin Din. “It’s right by the Duomo, and the on-property amenities and service are excellent.” The Duomo, a massive Gothic cathedral, is one of Milan’s iconic landmarks and among the largest churches in the world.

That property has a median cash price of $1,653 per night, and while you currently get a median redemption rate of 4.2 cents per point for a stay, Gondola’s analysis suggests that the value could drop to 3.1 cents under the new award chart.

Alila Ventana Big Sur in California, which has a median cash price of $1,076 per night, is perfectly situated for a coastal nature retreat. Although it’s an all-inclusive property, it falls under the standard Hyatt award chart. BW editor and Smart Travel co-host Meghan Coyle stayed at this resort overlooking the Pacific Ocean and surrounded by Redwood trees. She says she spent many hours hopping between pools, hot tubs and Japanese baths.

The meals were excellent, Coyle adds. The property served fresh, California fare with creative ingredient combinations. And all the food, including snacks from the room’s minibar, was included in the cost.

Currently, an award stay at that hotel offers a median point value of 2.7 cents each.