The Hyatt Regency Washington
I'm a loyal customer of Delta Air Lines and Hyatt hotels. And today, both Delta and Hyatt announced devaluations in their rewards programs — debasements, if you will, of their reward points currencies.
Take Hyatt's reward program. I have significant savings on deposit with them: 117,146 rewards points. Under Hyatt's old rules, I could have redeemed 22,000 points to stay one night at the Park Hyatt resort at the base of the Beaver Creek ski resort in Colorado.
Given the eye-watering ski season room rate of $911.81 (including taxes and fees) that implies a point value of 4.1 cents and an account value of $4,855. Effective Jan. 7, 2014, a redemption at the Park Hyatt will cost 30,000 points, meaning I've experienced a sudden 36% inflation and my rewards account is worth a mere $3,561.
Delta's "changes" (cuts to reward values are always neutrally and euphemistically described as "changes," because a monetary authority never just comes out and admits it's inflating),which go into effect on travel as of Feb. 1, 2014, will also substantially reduce the value of my balance there.
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Read more: http://www.businessinsider.com/runaway-inflation-is-here-and-its-showing-up-in-travel-rewards-programs-2013-11#ixzz2kS9ImIuk
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