Refundable vs non-refundable rates
Every hotel reservation falls into one of two buckets. A refundable rate can be cancelled up to the property's free-cancellation deadline for a full cash refund to your card. A non-refundable rate cannot be cancelled at all once booked. Only refundable rates can be repriced via the cancel-and-rebook path. Non-refundable rates are stuck with whatever you paid unless the brand offers a price-match program.
