Marriott International changed its cancellation policy, requiring guests to cancel by midnight 48 hours prior to arrival.

Guests who cancel later will be charged a fee that is the equivalent of one night’s stay.

The previous “free cancellation” cutoff was 24 hours.

The new policy applies to all Marriott brands in the U.S., Canada, the Caribbean and Latin America.

Exceptions are the independently owned Design Hotels and Marriott Vacations Worldwide properties.

Marriott said the new policy “will allow hotels a better chance to make the rooms available to guests seeking last-minute accommodations.”

Hotels whose policy is to allow guests to cancel their room reservations on the day before arrival without incurring a fee “are faced with a significant number of unsold rooms due to last minute cancellations,” the company said.

Marriott is the largest hotel company in the world. Its 29 brands include Ritz-Carlton, the Autograph Collection, Courtyard by Marriott, W Hotels and Westin.