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Update: The Business Platinum® Card from American Express OPEN has exciting new benefits, and a great new limited time offer. Learn more about the current offer here.
Update: This offer for The Business Gold Rewards Card from American Express OPEN is expired, but there’s currently an opportunity to earn 50,000 Membership Rewards® points after you spend $5,000 in purchases on the Card within your first 3 months of Card Membership. Learn more about the special offer here.
Hyatt is offering a 10% discount on the purchase of physical gift cards, which can translate into huge savings potential for Hyatt stays with a bit of planning:
- The gift cards can be used at participating Hyatt hotels in the US, Canada and Caribbean
- If you have an OPEN card from American Express you’ll receive a 5% rebate on the purchase
- You can also earn 3% cash back on your Hyatt booking through TopCashBack
Purchasing gift cards
This promotion is open to all Hyatt Gold Passport members, and you can purchase the gift cards directly on the Hyatt website. It doesn’t seem like there’s a limit to how many gift cards you can buy using this promotion.
To apply the discount, enter GPGIFT14 in the promotional code field. You should then see the 10% discount reflected in your shopping cart:
At present, the promotion code only works for physical gift cards, so there’s no way to get around the $6 shipping fee. There isn’t a published expiration date at present, though my guess is this won’t go past December 31, 2014, at the latest.
It’s worth noting that per a Gold Passport representative on FlyerTalk, starting in mid-November they’ll have options for eGift cards and free shipping, so it might make sense to hold off.
Hyatt gift cards are valid at the Park Hyatt Washington DC
Stacking with American Express OPEN rebates
Hyatt participates in the OPEN Savings program, whereby you receive a 5% discount for Hyatt stays of up to $10,000 per year when paying with your American Express OPEN Card:
OPEN Savings® from American Express OPEN
Hyatt Hotels & Resorts® boosts the value you get from your Business Card from American Express OPEN as part of the OPEN Savings® benefit. As a built-in Business Card feature, you automatically receive a 5% discount credited to your American Express statement OR 2 additional Membership Rewards® points for each eligible dollar spent at participating Hyatt Hotels & Resorts in the U.S. up to $10,000 per Card Account in a calendar year. This benefit can be combined with other promotions offered by Hyatt.
This is equivalent to saving 5% on Hyatt stays, and the statement credit means you’re effectively getting cash back on eligible stays.
The four main OPEN cards for travelers are as follows:
- The Business Platinum Card® from American Express OPEN
- The Business Gold Rewards Card from American Express OPEN
- Starwood Preferred Guest® Business Card from American Express
- SimplyCash® Business Card from American Express
Of those, I think the Starwood Preferred Guest® Business Card from American Express and SimplyCash® Business Card from American Express offers the best value here.
By using the SPG card you’ll earn both 5% cash back plus one Starpoint per dollar spent, which I value at 2.2 cents each. So that’s basically a 7.2% return on Hyatt stays.
With the SimplyCash card, you can select one category where you’d like to earn 3% cash back, and hotels can be one of them. So that’s an 8% return on Hyatt stays.
Meanwhile on the Business Gold Rewards Card you have the option between two bonus Membership Rewards points per dollar spent or 5% cash back — the 5% cash back is definitely the better of the two options, in my opinion.
But I value Membership Rewards points at 1.8 cents each, so I still think you’re better off using the Starwood Preferred Guest Business Card than the Business Gold Rewards Card.
There are a couple of restrictions regarding the OPEN Savings program for Hyatt that you should know about:
- The 5% cash back applies for the first $10,000 spent per card account each calendar year. If you have multiple cards that qualify for American Express OPEN Savings you can go up to that limit on each card.
- The savings only apply at select Park Hyatt, Andaz, Grand Hyatt, Hyatt Regency and Hyatt hotels within the U.S. — Hyatt Place, Hyatt House, and Hyatt Residence Club locations don’t participate.
This really adds quite a bit of value to Hyatt stays if done properly. You basically get a 7.2% return on Hyatt spend, in addition to the points you earn for your stay.
Also, last year Hyatt ran a similar promotion offering a 10% discount on gift cards. For what it’s worth, purchasing them with an OPEN Savings eligible card did trigger the 5% Hyatt discount:
I can’t guarantee that will be the case again this year, though I see no reason it wouldn’t be.
If that does work, that’s like a return of ~17% on Hyatt stays without factoring in the points you earn for your stay or from any promotions.
If you know that you’ll have stays at participating Hyatt hotels in the next year this is a no-brainer, in my opinion.
As a side note, the Hyatt Regency in Crystal City and the Hyatt Regency Mission Bay both accept Hyatt gift cards, so if you’re heading to one of the upcoming FTU events this can be a good way to save on hotel costs.