I'll check my hotel frequently if I've booked a cancelable reservation - for example, I took a two night trip to Boston in December, found what was a good rate for the hotel on Quikbook at $125 in early September, which I booked. I kept checking the hotel chain's website frequently though. In late October the rate on the hotel website had dropped to an unheard of $93/night - immediately booked that and canceled the other reservation. Next day the rate on the chain's website was back up to $129, glad I had been checking...