Chase has sent out emails with a promo that gives you $100 off you next hotel stay booked through Chase Ultimate Rewards. In order to get the $100 discount, you need to book with your Chase Sapphire Preferred a stay worth at least $300. Use promo code ENJOY100 at checkout. Promo expires on August 31st, so you need to book before that, but the stay can be on a later date.
The offer seems to be targeted so most likely, if you didn’t receive an email, it won’t work for you. But you could test it out anyway.
Make sure you compare rates before booking because Chase Ultimate Rewards portal doesn’t always hate the best rates.