[iaskwhy]

Sometimes they do, sometimes they don't, at least in Europe. If you're price sensitive, always check both before booking it.

Some examples: I've booked directly with the place to pay half price for one night in an amazing farm in Iceland; I've got the opposite last time I booked a night in a cheap hotel in Portugal. I usually check the Booking.com price and then check directly with the hotel then "Oh, but I've seen this cheaper in Booking.com", "Yes, please do the reservation via Booking.com then".