The $900 certs had expiry dates, but they were better than .76 on the dollar, more like .55 on the dollar.
They were .57 and then became .72, but the real killer for me was the relatively short expiration date and the denomination amounts.
My typical Hyatt stay is $50-$100, so the $50 Costco certs work out well.. With Cap1 they were $500/$200/$200 and no change is given.