Hotels are officially cheaper than Airbnbs, according to a new study

Hotels are officially cheaper than Airbnbs, according to a new study

A hotel could be cheaper by up to 85 percent

For some time, the economical choice for vacation accommodation seemed to be a short-term holiday rental. Having a whole apartment where you could prepare meals and get the homey feeling, frequently at a reduced price, was a compelling option compared to standard hotel rooms.

Yet, a recent Which? Travel investigation discovered that now hotels often outcompete Airbnbs in price across numerous places.

The research by Which? Travel examined the prices of 300,000 single-bedroom listings on well-known rental platforms against rates for countless hotel rooms in 50 locations from May 2022 through May 2023.

Previously, platforms like Airbnb provided more affordable stays because they lacked staff. However, due to the pandemic driving the demand for rental lodgings, there’s been a significant price surge for Airbnbs.

On the highly sought-after island of Santorini, listings from Airbnb and Vrbo were about 71 percent pricier than hotels, with an average of £203 (€233, $248) against £119 (€137, $145) for hotels.

In Amsterdam, renting averaged £183 (€210, $223), while hotels were £116 (€133, $142), marking nearly 60 percent more.

This wasn’t confined to Europe. Which? observed similar trends in Asian destinations. In Hong Kong, there was a striking 85 percent price difference, with comparable stats in Singapore and Dubai.

Hotels also proved cheaper in every UK capital and numerous top UK travel spots. In Southwold, a charming Suffolk coastal town, a hotel was about £155 (€178, $189), compared to a heftier £223 (€256, $272) for a rental.

One significant advantage with Airbnb is it remains cost-effective for large groups. Rory Boland, the Which? Travel magazine editor, notes, ‘when you’ve got a big party needing more space and rooms, private rentals probably still outprice hotels.’

However, he advised travelers not to automatically assume hotels are pricier, suggesting they should compare prices on various platforms.

Thus, while Airbnb might be apt for group travels, those journeying alone might want to consider a traditional hotel, potentially saving a fair amount.

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