Tip: Note Your Property's Cancellation Policy Before Your Stay

Right now, the trendy thing for hotel chains to do is change their cancellation policies, making them less generous for travelers. In the past couple of months, Hilton, Marriott and Starwood have changed their cancellation policies from 24 hours before the stay to 48 hours prior. Plus, IHG also changed its cancellation policy from 6:00pm on the day of check-in to 24 hours before your stay.

But, while the overall policies for many of them are changing, note that individual properties might have their own cancellation policies. Take, for example, the Hilton Times Square in New York City. Although Hilton's standard cancellation policy is 48 hours, the Hilton Times Square requires you to cancel three days in advance.

Some hotels in locations where there is higher demand have more restrictive cancellation policies, such as this Times Square location. If you think you might have to cancel your reservation for a hotel stay anywhere, be sure to take note of that specific property's policy, as it may not adhere to the rest of the chain's standard.