Same Lisbon hotel, two loyalty programmes: Hyatt cost 24,250 points vs Hilton's 70,000

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While planning my recent solo trip to Lisbon, I stumbled on an interesting fact: Some hotels belong to more than one major hotel loyalty program.

Such was the case with The Vintage Lisbon, which can be booked through both Hilton Honors and World of Hyatt .

After double checking both websites and scrolling through photos to confirm that it was, in fact, the same property, I decided to book a stay to test it out. Here's what I learned, and how you can take advantage of this little-known phenomenon.

Related: The 13 best hotels in Lisbon

Deciding where to book

RACHEL CRAFT/THE POINTS GUY The biggest benefit of multi-platform hotels is that they give travelers more options for booking — and, thus, maximizing rewards.

For the Vintage Lisbon, Hyatt's award rates were significantly lower on my dates: 24,250 World of Hyatt points per night compared to 70,000 Hilton Honors points.

HYATT HILTON Unfortunately, my Hyatt account was pretty much depleted. I could have transferred 49,000 Chase Ultimate Rewards to World of Hyatt to book my two-night stay, but I was hoping to save my Chase points for a big United MileagePlus redemption down the road.

On the other hand, I had plenty of Hilton points on hand. I had transferred them speculatively from American Express Membership Rewards when there was a 30% bonus, boosting the transfer ratio from 1:2 to 1:2.6. This meant I could effectively spend 54,000 Amex points on a stay that would have cost around 785 euros ($898), giving me a solid value of 1.7 cents per point.

So, I booked two nights at The Vintage through Hilton Honors for $0 out of pocket — and got to keep my precious Chase points. This is a rare example of how proactively transferring points during a bonus, even if you don't have a specific redemption in mind, can pay off.

RACHEL CRAFT/THE POINTS GUY However, if I had been paying for my stay with cash, I would have chosen to book through Hyatt instead. That's because I stay at Hyatt properties more often than Hiltons, so World of Hyatt points and elite night credits are more valuable to me. I also have the World of Hyatt Credit Card (see rates and fees ), which earns me bonus points on Hyatt purchases and gives me the perks of Discoverist elite status .

Related: Here's how much Hyatt prices have changed with the new award charts

The benefits of membership

Beyond the cent-per-point number, I got a lot of intangible value from this hotel.

With warm, friendly service and a spa area with a pool, sauna and steam room, The Vintage was an ideal place to unwind on my solo trip . It was also close to lots of restaurants, a metro station and the Lisbon Botanic Garden.

Even better, the full breakfast spread was included in my award rate. I'm not sure it would have been if I had booked through World of Hyatt.

RACHEL CRAFT/THE POINTS GUY But wait, there's more.

Before my stay, an email from Hilton hinted at mysterious benefits: "Enjoy a bespoke, luxury experience with Small Luxury Hotels of the World."

This experience arrived on my first night, in the form of a small bottle of wine and some of Portugal's famous pastel de nata desserts. There was also a letter explaining my Hilton Honors member benefits: free Wi-Fi, a bottle of water and late checkout (if available).

RACHEL CRAFT/THE POINTS GUY As far as I know, World of Hyatt wouldn't have offered most of these benefits (other than free Wi-Fi) at The Vintage. Even if I had top-tier Hyatt elite status, many perks do not extend to Mr & Mrs Smith properties.

What I do have is the World of Hyatt Credit Card , and I was curious to see if I could use it to earn bonus points on additional purchases I made at the hotel. On my first night, I sampled the rooftop bar's falafel platter — which was almost as good as the views — and charged it to my Hyatt card.

RACHEL CRAFT/THE POINTS GUY The purchases did in fact code as Hyatt on my credit card statement, scoring me some extra points.

CHASE It's nice to know that, when you have multiple loyalty programs to choose from, you can pay in points through the one that makes the most sense and then leverage the other for cash purchases.

Related: The best hotel credit cards

How to book a multi-program hotel

RACHEL CRAFT/THE POINTS GUY So, how can you book one of these rare and elusive multi-program hotels?

In general, hotels that belong to multiple programs tend to be members of independent collections that have been integrated into mainstream hotel rewards programs.

The Vintage Lisbon is a member of both Small Luxury Hotels of the World (which has a partnership with Hilton Honors ) and Mr & Mrs Smith (part of World of Hyatt's ecosystem). I've stumbled upon a handful of similar cases, including Costa Rica's Esh Hotel and Spa, which is a member of both Design Hotels (integrated into Marriott Bonvoy) and Mr & Mrs Smith.

If you're eyeing a property in one of these collections, there's a good chance it could be available through another platform, so it's worth checking your options.

Rooms.aero , a handy tool for searching award night availability across programs, can help too. When I searched for hotels in Lisbon, two versions of The Vintage showed up right next to each other, labeled Hilton and Hyatt.

ROOMS.AERO Before booking a multi-program hotel, be sure to compare prices through all available programs, as well as things like cancellation policy and whether breakfast is included. Also consider what type of points you have at your disposal, each program's transfer partners and any transfer bonuses .

Related: The best Hilton hotels in the world

Bottom line

The beauty of multi-program hotels is the flexibility to choose what works for you.

I never thought I would opt for a Hilton over a Hyatt. But since I had Hilton points on hand — and lots of them, thanks to an Amex transfer bonus — I was glad to be able to redeem through Hilton Honors and save my Chase points for something else.

It's always a good idea to check all your options before booking. And don't forget about other platforms, like credit card travel portals, where you may be able to earn bonus points or access special perks.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.