Hyatt has added a variation on its recurring Faster Free Nights promotion called “The Next Big Thing” where members can now choose between two promotions this fall. Members can choose to earn free nights or bonus points at any Hyatt property worldwide from Oct. 1 through Jan. 31, 2010. Choose free nights and you’ll receive a free night after every two eligible stays. Pick bonus points, and you’ll receive 3,000 bonus points on every eligible stay, starting with your second stay. Online registration begins Sept. 25 and you can make your selection online.

Plus, every stay will count double towards earning elite status, which makes Platinum status at five stays easily within reach and even Diamond status after 25 stays will be quicker to achieve.

United Mileage Plus 1K members can take advantage of an additional offer. For stays through Oct. 31, 2009, 1K members can earn 5,000 miles per Hyatt stay. Registration is required. Combine the 5,000 miles with free nights and during the month of October, you can earn 10,000 miles and a free night for every two stays, plus fast track to Hyatt elite status.

Bottom line: Which offer to choose? Hotel award nights start at 5,000 points for a category one hotel so the only way you can earn more nights with the point offer is if you only redeem for category one hotels. And remember that you won’t get any bonus points on your first stay. Free nights earned through this promotion can be redeemed at any Hyatt around the world between Oct. 15, 2009 and March 31, 2010 and you aren’t limited to hotel categories but you are limited by time. In short, bonus points can be used at any time, free nights can be used at any hotel. Just be sure to register and pick an offer at http://www.goldpassport.com before your stay.