Back in September I wrote that as a result of Hyatt’s minority investment in Oasis, the home sharing site would join Hyatt’s loyalty progam. That’s now happened. And you can triple-stack promotions with it.

So while Airbnb talks notionally about what a loyalty program might look like (for both home owners and for guests), Oasis already has one for guests. Hyatt’s. Because effective today Oasis is now part of Hyatt’s ‘Unbound Collection’ brand. And much of the rest just follows logically.

• Points earning: You earn standard Hyatt points (and elite bonus points) as well as elite night credit for Oasis stays. Spend with Oasis properties will be treated as Hyatt spend for earning with the Hyatt Credit Card.

• Elite recognition: Late checkout based on tier status (2pm for mid-tier and 4pm for top tier) subject to availability similar to resorts as well as a check-in (‘welcome’) amenity.

• Redemption: 15,000 Hyatt points can be used for $200 credit

What is Oasis

They’re focused on upscale properties in 20 destinations. This doesn’t give Hyatt a worldwide footprint. Airbnb isn’t the analog. They promise “tidy spaces, crisp linens, speedy (free) wifi, and Malin + Goetz toiletries.”

Here are the 20 cities:

How This Stacks Up

The Hyatt-Oasis integration is great for allowing members to earn points and elite stay credit as at any other Hyatt property. Price being equal or on a longer business stay where you want something other than a hotel it’s nice to earn the Hyatt points rebate and status credit which is something competitors don’t match.

There’s not much to get excited about for elite members in terms of recognition. Ironically the check-in amenity is something the World of Hyatt launch took away from guests at the rest of Hyatt’s hotels.

Hyatt’s Senior Vice President for the World of Hyatt program Amy Weinberg tells me the welcome amenity will vary by location, and offered an example of her own recent test stay where she received a “cocktail kit with directions and the components you might need” along with “coffee for the morning and the addition of yogurt and granola and banana for the morning.”

And redemptions are low value at a fixed 15,000 points for $200 credit. Fixed value rebates don’t offer the chance for members to ‘win’ at the points game.

In contrast Wyndham lets you redeem 15,000 points per bedroom per night on vacation ownership and home sharing properties regardless of the cost of the property – so some stays are a great value and others are a poor value (where you’d opt not to use your points).

What This Does for Hyatt Strategically

Hyatt’s major competitive disadvantage is its size. At slightly over 600 hotels it’s a fraction of the size of Marriott, Hilton and IHG. This puts Hyatt both firmly in the home sharing space, something that other chains are behind in figuring out, and expands their footprint to some markets where they aren’t in today. Hyatt specifically cites the examples of Barcelona, Ibiza, Punta del Este, Rome and Trancoso.

So it fills a gap. However they haven’t done anything yet to create the same kind of seamless experience for home sharing that they offer business travelers on hotel stays though Oasis offers ‘expert sidekicks on the ground’ to greet guests.

It may make sense on a longer business stay to opt for ‘a local neighborhood’ where you spend time getting to understand a property and its quirks, but for shorter stays where you know where the check-in desk is, how to work the thermostat in the room, and what sorts of food and television options are available Hyatt is still a 600 hotel chain despite this move.

And while Hyatt.com will now give you an option to see Oasis properties, they don’t display full inventory at Hyatt.com. In addition, Oasis doesn’t offer instant reservation confirmation in all locations.

So this is a start to growing a traditional hotel in the sharing economy space, and bringing loyalty technology to individual property rentals.

Triple Stacking Promotions With Oasis

When Hyatt launched their 1000 point per night promotion that runs through May 15 the terms and conditions of the offer said, “Nights at Oasis Collection properties are not Eligible Nights.”

However I asked Amy Weinberg whether customers could now earn points under this promotion through Oasis stays and they told me that yes they could — Oasis properties are now part of Hyatt’s un-brand ‘The Unbound Collection’ and are eligible for bonus points-earning.

An Oasis stay will also count as an Unbound Collection stay for earning a free category 1-4 night after staying at 5 brands and again after 10 brands.

Finally they have a dedicated promotion for Oasis stays, 1000 points per night through June 30.