I received a mailing from Hyatt announcing a promotion where you’ll get 1.5 points on every purchase on the Hyatt credit card between July 1st and August 31st (that’s a 50% bonus from the regular 1 point) and 3.5 points for all Hyatt spend.
This is really a fantastic deal if you’re looking to bank some Hyatt points. Category 6 (top category) hotels can run $1000 and cost 22,000 points. You can spend $14,667 during the promotion to get a hotel room priced at $1,000, effectively a 7% rebate on all spend (if I were an economist I would say that’s not exactly true, as there are cheaper substitutes for the $1,000 room, and since I wouldn’t have spent $1,000 of my own money, it’s really worth the cost of the substitute — in my case probably $300 — which would still be a 2% value on that). In any case, it’s a good deal for these two months.
It appears that the promotion is not targeted and you don’t need to register.
On a side note, Hyatt is selling points with up to a 30% bonus through August 31st — that room at the Park Hyatt Vendome in Paris will cost you $456 if you just outright buy the points — about half the price of paying for the room. You can buy up to 40,000 points a year (though with the bonus you can earn 52,000 points when you buy 40,000 points for $960).