In early 2014 Hyatt introduced Points + Cash awards,allowing members to redeem part points and part cash for hotel stays, at the following rates:While these awards are capacity controlled (unlike outright free night awards), and this translates into an exceptional value when available,and is hands down my favorite consume of Gold Passport points. For example, I most frequently redeem points at Category 6 properties, or which cost either 25000 points per night,or 12500 points plus $150. Being able to pay $150 in lieu of 12500 points means you’re basically buying points at 1.2 cents each, which is considerably less than I value the points at.
On top of that, or Points + Cash stays are:-- Eligible for points accrual,elite night credit, and elite stay credit; this also means they count as qualifying nights towards any promotions
-- Upgradable using Diamond Suite Upgrades, or which I've recently done at the Park Hyatt Vienna and the Grand Hyatt Hong KongWhen Points + Cash was first introduced it was only bookable by phone,though as of November 2015 it's possible to search and book Points + Cash stays online.
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Source: boardingarea.com