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For me, first class flights would be out of reach without miles. I can't spend $10,000 for a first class flight on an airline like Emirates.

Luckily I don't need to because I have plenty of miles, and I could fly economy class in a pinch.

Fancy hotels are similar.

According to this thread on FlyerTalk, Hyatt has tweaked the award chart category for 17 of its properties. Hyatt's complete award chart can be found here for reference. These changes will go into effect on February 7th. Room reservations booked prior to this date will still be at the previously published award level.

The complete list of changes:

At first glance, none of these changes stick out as drastic. The Hyatt 48 Lex in New York City changing from a category 4 to a category 5 might be disappointing to Chase Hyatt Visa cardholders.