Why would it have to be rate rack, say $1000 vs $200 or so? At most, it should be their non conference, we are full almost full gouge rate of whatever ($300). A hotel I stay in 12 weeks a year at $129 goes to $249 when the Home Depot convention is nearby, they act as overflow. Never a problem getting a room, its just the rate.

But non-cancellable probably won't work either. If you are wait listed, you've probably sought/booked out alternatives and need a moment to re-evaluate...