Sure, but that’s just one possible way of implementing enforcement of reservations, which the first commenter claims is untenable because of competition.
The untenable part seems to be 'anticipation of sticker shock' though - a reputation system would affect chronic cancelers but (assuming your PR department is on its toes) quite possibly largely not be visible to incidental cancelers or people who're not actually going to cancel and are just scared of getting screwed.
It still might not work, but as implementation approaches go, the business risks seem substantially different at least.
