Do this now: Book any speculative AA and Hyatt awards today for any potential travel in the next year.

Why? Both Hyatt and AA are expected to make major award price changes over the next few days.

1. Hyatt is going to introduce peak and off-peak pricing for hotel award bookings sometime in mid-October for stays in March 2022 and beyond, and last I checked October 14 probably counts as sometime in mid-October. The new chart can be found here. I’d book absolutely every hotel stay with Hyatt that you may possibly take next year, assuming your point balances allow it. If the price goes up you’ll be locked in at the old rate, and if it goes down you can get the lower price and the difference in points back, so the downsides are minimal.

2. AA is going to devalue AAdvantage mileage awards really soon, according to twitter personality JonNYC who has inside sources and is almost always correct. As a result, I’d book any business/first class international awards that you may possibly take in the next 330 days right now. If the trip or timing doesn’t work, you can always cancel the trip and redeposit the miles with no fee under current AA policies, but if you end up taking the trip you’ll be locked in at the current prices.

Remember when Citi added AA as a temporary transfer partner for ThankYou Points in July? It brings me absolutely no pleasure to report this, but the prediction that AA would devalue soon as a result of this partnership seems to be correct. I’d say that the US dollar would be good hedge against AA devaluation, but that seems to be undergoing a major devaluation of its own. I guess it’s time to hedge with pumpkin futures, just remember to sell them before Halloween.

A shriveled-up, moldy, carved pumpkin
AA miles are currently on-track to mimic pumpkins in mid-November.