Edit: I'm going to have to retract my comments about cheapest price being on official hotel brand websites. I did a cursory search and find many cheaper options on Hotel Tonight (and expedia) for same day reservations than the brands, and while I haven't looked at all the brand's best price guarantees, at least IHG's exempts them from having to provide the lowest price within 24 hours of checkin, so it seems like a loophole to let them dump rooms for cheaper on third party websites day of arrival.
https://en.wikipedia.org/wiki/Room_Key
Edit: I'm going to have to retract my comments about cheapest price being on official hotel brand websites. I did a cursory search and find many cheaper options on Hotel Tonight (and expedia) for same day reservations than the brands, and while I haven't looked at all the brand's best price guarantees, at least IHG's exempts them from having to provide the lowest price within 24 hours of checkin, so it seems like a loophole to let them dump rooms for cheaper on third party websites day of arrival.