In Part 1 of this article, I detailed how using a combination of the AMEX Open program, Topcashback and SPG points from purchasing gift cards would get you a roughly 10% discount on all Hyatt stays. Here's the rest of the equation in bumping that discount up to 20%.
There is currently a 10% discount promotion on all Hyatt gift card purchases till the end of 2013. Simply, key through to the Hyatt site after logging into your Topcashback.com account and searching for Hyatt. Once TopCashBack ports you through, look to the bottom of the page and click on the link that's labeled "Gift Cards". That will take you to this page where you click on the "Buy Now" button and purchase the gift card with promo code GPGIFT. This will allow you to take an additional 10% off the price of the gift cards. Once you tally up the total, the effective discount rate is about 19%. That's a very strong discount in my book.
Granted this is quite a bit of clicking around and stacking promotions, but you could easily do this in 10-15 minutes and the takeaway is a great price on stays with my favorite hotel chain. One caveat: the maximum amount of gift cards you can buy is $2,000, which if you can swing the upfront cost, is probably the way to go as there's a set $6.00 shipping charge on any amount purchased. The math I did to get the 20% is as follows:
Total value of Hyatt Gift Card: $2,000
• 10% discount using GPGIFT: $200
• 3% Cashback from Topcashback.com: $54.18 (3% of $1806 which is the original $2000 gift card + $6 shipping minus the $200 discount from GPGIFT)
• 2% Starwood points equivalent cash back rate: $36.12 (2% of $1806)
• 5% AMEX Open Savings Statement Credit: $90.30 (5% of $1806)
• Total Discount/Rebated cash to you is $380.60 which is 19.03% off the original $2,000 price. Not quite 20%, but just about.
Remember that all stays and nights earned using these gift cards will be processed just like any other stay. Some of these discounts are only good until the end of 2013, so if you're interested, get a move on.