Yes, you can cancel and rebook on Booking.com in 2026, but the financial outcome depends entirely on the cancellation policy of the specific room you booked. If you booked a "Free Cancellation" rate, you can cancel up until the specified deadline (usually 24–48 hours before check-in) and immediately rebook a new room or the same room at a lower price. However, if you booked a "Non-Refundable" rate, you will be charged the full amount even if you cancel. In 2026, Booking.com has introduced more flexible tools for "changing dates" without a full cancellation, though these often incur a price difference. If you see a price drop for a non-refundable room, your best bet is to contact the property directly; while not obligated, some hotels in 2026 will allow a "rebook at a lower rate" in exchange for a small fee or an upgrade to keep your business. Always check your confirmation email for the "Cancel by" date to avoid paying for two reservations.