I reviewed the Park Hyatt Maldives extensively after my trip there in February.
It was a phenomenal resort, in the middle of nowhere (with the good and bad that comes from that), and at the time I considered it to be one of the very best uses of hotel points. It’s a top reward category 6 property in the Hyatt Gold Passport program, 22,000 points per night, and that gets you a villa that frequently runs $1000 per night.
Rates aren’t always that high, villas can often be had in the $750 range. And the property itself isn’t an inexpensive place to be — roundtrip air/boat transfers from the Male airport run ~ $400 per person. Food is expensive (though breakfast is included for all guests). Excursions are very high priced. But the points open up amazing possibilities.
There are some sales, though, running through both Etihad (using promo code PHMEY1 valid until December 31) and Qatar (using promo code PHMQA valid until November 30) that bring down the price substantially, it’s advertised as 50% off and actually is 50% off.
And that calls into question my entire points-value calculation. When rooms are going for $750, and a 50% off sale brings that down to $375, spending 22,000 points per night is no longer quite the value that it was. It’s still a good, solid, Gold Passport redemption similar to what you might get for a category 6 property in Manhattan though.
I’m not sure I’ve ever paid $375 for a single night in a hotel, ever. I do think this hotel is more than worth that price point, no brainer. And at that margin I don’t think I’d want to redeem my Gold Passport points to go… So the question becomes, knowing the villas get discounted that way, would the sale make you pay for a room, or not go altogether because it’s still too much money but no longer as good a value use of points?
(HT: Loyalty Lobby)
$375 is still a lot of money. Using 22,000 hyatt points for that value and a trip to the maldives which most people could probably not otherwise afford is amazing.
When you add taxes and service charges, the cheapest room becomes $451. After factoring in the 3,791 points per night that you would earn on a paid stay (6.5 points per dollar on the base rate for a Diamond plus 3 points per dollar on the total when using a Hyatt VISA), an award night would “cost” you 25,791 points. That works out to about 1.75 cents per point, which is pretty close to the going valuation for Hyatt points. So, with the 50% discount, using points is an OK deal, but not a killer deal like it is at full price. Too bad it is such a PITA to get there…
IMO, the sale should only tempt someone who can afford $375 a night but doesn’t have a lot of Hyatt points. For the rest of us, the value proposition of using points remains the same.
Thinking that maybe you shouldn’t go because it’s no longer as good a value use of points highlights the flaws in how points and miles are sometimes valued based on business/first airfares or high hotel rates that one would otherwise never consider paying.
I think the Hilton has rates at around $170 a night. In addition, IMO BOB is far more beautiful.
What about sweetening it by using one of those Suite Upgrade awards for the paid stay?!?!(At least right now I can’t see Maldives as an exclusion in the T&Cs for use).
Gary,
Your closing question is a perfect example of the logic loops that miles and points addi… ah… er… enthusiasts can get ourselves into. It’s also related to subjective factors that affect M&P valuations. If I redeem 100K miles for a $6K flight that I’d never actually PAY $6k for, what are my miles really worth?
@Adam — all of the rooms at the Park Hyatt Maldives are already suites, so it doesn’t help.
Gary,
Andyandy is spot on. In most cases, I shy away from valuations exactly because of these issues. Sometimes, my “true” valuation of a product is less than what many sane people would pay.
Pop Quiz: In terms of true cash, say you already had a CX J seat confirmed. How much would you pay to upgrade to F? For me, probably about $100/pp each way. I’m sure that are people who would actually pay $500/pp each way. But, if I’ve got the miles to spare, I’ll upgrade, enjoy myself, and forget about putting a dollar value on it.
Gary,
My wife and I are going to Bali later this year, and we’re going to do something that it appears you have never done: Pay $500 USD per night for a hotel room.
In October when we are going, the W Bali is selling their one bedroom villas fro $400++, and that includes breakfast. I’ve wanted to try a super posh place sometime in my travels, and this just might be that time.
@Dan re CX J->F upgrade, amount depends on the route and the aircraft! 😛
My son just got back from the Maldives. He told me 2 things that I’ve never read about before.
#1. It’s hot. Very hot.
#2. The service isn’t all it’s cracked up to be. He then mumbled something about the Brits and their seemingly ‘no charm’ policy.
Great find!! Is it a non-refundable rate?
A quick check of rates for thanksgiving show $520 as the promotional rate, with a 30 day cancellation policy (less than (or equal to maybe) 30 days = 100% penalty).
Still a great deal. But it’s not $375. That’s probably off season (i.e., rainy).
Gary – as pointed out by beachfan, the $375 rate is only available on certain dates. We too are going in October and the discounted rate then is > $500. And of course at year end the rate disappears. 22k Hyatt Points on the other hand can be used any time of the year.
Also I am surprised you say you’ve never paid $375 for a hotel. I know you stay at the Andaz 5th Avenue frequently, and $375 is about the average going rate for that place no? Maybe I am missing out on some uber deal? Especially midweek. Maybe the weekend rates are better. Anyway this did surprise me.
I actually paid $760 a night for this place back when it was Alila. That’s looking a lot no, but no regrets it was wonderful, and you can pay a lot more at comparable places like W, O&O Reethi Rah etc and many multiples of that at places like the new Jumeirah property
Has this always been attached to this promo?
Rate Description:
ETIHAD AIRLINES SPECIAL OFFER Reduced Rate:Tax Excluded: GUEST MUST CHOOSE MILES FOR THEIR STAY AND PROVIDE VALID ETIHAD LOYALTY CARD UPON CHECK-IN. – Valid 07DEC11-31DEC12
@Joelfreak – I do recall it said that you had to choose miles instead of points, I think
Also the discounted rate does NOT list breakfast at all…
@Joelfreak when I was there ALL guests received breakfast including everyone on award stays regardless of status