I agree with jetsetter that you should look at how the company treats you. I stay at Hilton quite often and am treated, on the whole, very well. Most often when I forget to cancel a reservation they take off the no-show charges. Their rates tend to be quite reasonable compared to comparable hotel chains. They offer great promotions. Finally, they always take care of me when I'm planning an award leisure vacation.
I don't think it is wrong to take advantage of a mistake and see what happens, but I do think it is wrong to expect them to honor an unreasonable request such as booking three hundred rooms and demanding recompense.
Couldn't help posting my $.02.