I find that most people aren’t aware of Hyatt’s generous rules for transferring points between members. There’s no fee to transfer points and members do not have to be relatives or live at the same address.
You just fill out an submit a form to World of Hyatt.

Here are three reasons why this is super useful:

• You can buy up to 55,000 points per year. You can receive up to 55,000 gifted points per year. But you can have other people buy points and transfer them to you as well.

• If you know a top tier elite member you can transfer your points to them, and they can book an award reservation for you. Hyatt’s “Guest of Honor” benefit lets a top tier member gift their status for a stay when redeeming points for someone else. In this way, you do not need top tier elite status, you just need to know someone who has it.

• There should be no such thing as a small number of orphaned points left in an account (potentially to expire)

Have a Hyatt Globalist Book a Guest of Honor Redemption for You at the Park Hyatt Vendome Paris and Receive Complimentary Room Service Breakfast

This is the form (.pdf)

Here are the terms and conditions.

VI. Combining Points

A Member may combine points from their account with those of one other specifically designated Member. A single Member may participate in a point-combining transaction (transferring or receiving of points) not more than once every 30 days. In order to combine points, the following requirements must be met:

(a) Each Member must have an active account to be eligible to combine points.

(b) A Program Point Combination Request Form must be completed and signed by both Members and submitted to Hyatt customer service. Forms are available by contacting Hyatt’s central reservation service. Completed forms must be returned to Hyatt via email as specified on the form. Once received, please allow between two and four weeks to approve and process the combination request.

(c) Points may be combined into only one Member’s account. Points received through transfer will be considered Bonus Points for the recipient. Once issued in the designated recipient Member’s name, the Member transferring the points will relinquish all rights to the combined points.

View of the Opera House from the Park Hyatt Sydney

Each member can be involved in a transfer just once every 30 days. And it involves a paper form that both members must actually sign and that you submit by email or mail. So it’s not as easy to do as Hilton’s new points transfers. At least it’s free, Marriott allows it but charges unless you have Gold status or higher.

Historically Hyatt described points transfers are only available in conjunction with an award redemption (you could only transfer at the time of redemption), although this wasn’t enforced. At one point the transfer form included a line for the award confirmation number, which was silly because most members cannot make award reservations without the points first having been transferred into their accounts (I’ve long been able to make award reservations – but not cash and points reservations – without points in my account as a top tier elite but that doesn’t apply to most).