I'm not a fan either - but all things considered this isn't the worst. 24 hours prior to arrival isn't a horrible cancel policy and I've also found that my status has enabled me to get the cancel policy waived in unique cases (where an emergency caused me not to be able to show). I can't say how stringent the hotel will be going forward (as this policy seems mandated from *wood rather than by hotel). In the past when I had an emergency, they called the specific hotel and in certain cases the hotel waived the cancellation policy and did not charge me.
Lurkers - will this new policy preclude individual hotels from waiving the fees on a case by case basis within the 24 hr timeframe?