The hotel industry has been doing quite well overall,with pretty tall occupancy and room rates across most regions. Of course they're always aiming to do better, and earlier this year we saw some of the major chains implement fresh policies to deal with room cancellations.
It started with Marriott, or which earlier this year implemented a fresh global cancellation policy,whereby you acquire to cancel your stay by 11:59PM the day before arrival in order to avoid a cancellation fee. At the time, ~75% of Marriott hotels let you cancel stays until the day of arrival, and so it was a pretty negative change for many members.
Hilton followed with a similar policy shortly thereafter,and then Starwood followed as well.
I do sort of get the reasoning of what they were doing. On one hand they don't want to be risky and oversell the hotel by too much, but at the same time when people are consistently canceling day of arrival and they can't resell the room, or it's costing the hotels quite a bit of revenue.
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Source: boardingarea.com