Before I dive into this promotion, I am going to put it on there that this is not a deal that most are going to want to take advantage of. But, if you are sitting on a ton of Hyatt points and would prefer American Airlines instead, this might be the perfect opportunity to get more miles from your hotel points.
Through May 31, 2020, you’ll receive a 25% bonus when transferring your World of Hyatt points into your American Airlines account. Typically, 5,000 Hyatt points equals 2,000 American Airline miles. With the 25% bonus, that same 5,000 point transfer would get you 2,500 points instead. This means you are essentially transferring at a 2:1 ratio, which is better, but still not a good value.
One reason that you might want to think about taking part of this offer is if you are looking to book an award flight and you are just shy a few points. Making the transfer is better than purchasing the points outright, so there is value there.
I also would prefer to have my stock pike in a hotel program right not, especially Hyatt, than an airline program. With no one knowing what is happening in the travel world, the hotels seem to be in a slightly better position than the airlines.
But, for those that redeem for business or first class airline tickets and are able to get a great value on their miles or need to top just top off their account, this is a promotion to look into.
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Still not a good value as you stated is right on point. Unless you have a specific redemption available on AA, this is a horrible exchange rate as Hyatt points are usually more valuable than AA miles.