The travel part of Airmiles is a weekly visit for me ,,,, ah dreaming of warm beaches & palm trees.
I did book a one night stay at MCO (Hyatt Regency) last year and when I booked it I was able to see that it was refundable up until a certain date.
When I cancelled due to Covid it was refunded back into my airmiles account.
It appears each individual hotel is different ,,click on the room to see the details.
Examples below
This is for the Swan for next week March 12-18th 2021
Can I cancel this reservation?
Traditional Room, 2 Queen Beds
Cancellation policy: This rate is non-refundable. It cannot be changed or refunded. No-shows will be charged 100% of total price regardless of Covid-19 measures or other reasons for cancellation.
This is Bay Lake Tower for next week March 12-18th 2021
2 Bedroom Villa - Lake View - ROOM ONLY
Can I cancel this reservation?
Free cancellation available before 11:59pm on 07 Mar 2021 (local time at property). A 100% fee will be charged starting at 11:59pm on 07 Mar 2021 (local time at property). If you are entitled to a refund, it will be issued to the original payment method. No refunds for no shows and cancellations made on or after the check in date.
Airmiles fluctuate due to Seasons/Holidays/etc.
For hotel closure or hurricane advisory I think this is a good question to call and ask Airmiles rep about.
Have fun planning
Hugs
Mel