Depending on the laws over there, they shouldn't be able to jack up rates because of an emergency issue; otherwise it would be price gouging. A 10% increase is OK. A 100% increase isn't. However, if say a popular team made the playoffs and people start booking hotel rooms, then the price increases are ok.

The only thing that'll worry me is the 14 day cancellation (which is now only 3 days) on a trip I'm not sure I'm taking. But if I know I'm taking the trip, I wouldn't worry about it as much.