If supply/demand increases the rate to $800.00/night-that means something is going on in the city. Good luck trying to rebook in the same city at a reasonable price.I know someone who booked their room a month in advance for a concert at about $250 /night. They then received a call from the hotel about a week before the concert saying the room was repriced to $800 /night and they could rebook at the new rate or have the room cancelled and the charge refunded.
Seemed kind of unethical to me but apparently the hotels have it in the fine print when you book.