» Hotel cancellations can cost you Points Wizard:

“You find a great hotel rate online and hit the button to book it… null. But did you read the “terms and conditions” section?… If you didn't, that great rate could cost you hundreds of dollars… Like airfares, some reservations for hotels and ... Do the math: Many hotel chains offer discounted rates described as “advance purchase,” “fully prepaid” or “book now and save.” These bookings are usually nonrefundable, so if you cancel, you may owe the full price of your stay. ...