Also a couple of things to consider:
If you stay at a different hotel than the Hyatt Regency, you'll need to arrange transportation to/from the Hyatt Regency to attend HostingCon. As far as I know, most of the hotels in the immediate vicinity of the Hyatt (i.e. within walking distance) are going to be about the same class as the Hyatt. In order to get rates that are significantly cheaper than the $130 a night group rate at the Hyatt, you'll probably have to go a mile or more away. Thus the need for transportation.
This whole statement is off the top of my head, so you may be able to find something close by that's cheaper, but my best guess is you'll need to either get a rental car or take a taxi. Taxis will probably cost you $5-$10 each way.
Just a few things to think about when planning. It may end up being only marginally more expensive (or even about the same) when you figure in additional transportation costs that may be necessary.
Please note that you are more than welcome to seek other accomodations. There are no requirements that you must stay at the Hyatt. But in my personal experience of having attended tons of conferences, it's much more convenient to stay at the location where the event is being held. You don't have as many hassles, and you can stay up later and get up later....