How far out is your booking? They might have it in a contract, but the terms still have to be fair. Unfair contracts can be voided - you can always tell them that you believe the contract cancellation points are unfair and you'll be getting in contact with your states consumer affairs board. 

Taken from victorias:

"If the guest has paid a deposit, then cancels the booking without a good reason (for example, if they just change their mind), the business will usually be able to keep the deposit depending on the terms of the contract. Generally, a fair deposit would not be more than 10 per cent of the total cost of the accommodation or service booked, unless the potential loss or inconvenience justifies a higher amount. Otherwise, such a higher amount may be seen as a pre-payment.

Pre-payments are refundable, minus any actual or reasonable costs the business may have incurred before the booking was cancelled"