The Intercontinental Los Angeles Century City (formerly Park Hyatt) has award rooms available for just 5000 Priority Club points, and availability appears to stretch through May 16. Dates after that are pricing out at the usual 30,000 points per night.
Though Priority Club does sometimes discount award redemptions (eg 24,000 points instead of 30,000 points for an Intercontinental), this award price is unprecedented… likely an error, though I’m having a hard time figuring out what the keystroke mistake would have been. Perhaps someone mistakenly coded it as a PointBreaks property.
Frequently Priority Club awards are available for any room at a given hotel, including suites, and presumably this is an error on the hotel’s part. Discussion of the phenomenon can be found at Flyertalk’s suite redemption alert thread. These suite redemptions are generally honored — even the wonderful Jimbaran Suites and Imperial Villas at the Intercontinental Bali, when those were available.
Still, I suppose Priority Club might come back and ask for more points later for this booking during an audit (they frequently redeposit points into members’ accounts after award stays, but also sometimes catch the error and correct it months later). But this is different in kind — the advertised price is actually 5000 points! And they did honor the THB0.01 pirce at the Holiday Inn Phuket…
As always with such deals, your mileage may vary.