For those who do prefer vacation rentals, having a more personal feel, access to a full kitchen and staying in more unique locales were the main attractions. Not having to dine out for every meal and being able to entertain large groups within the rental can also save you a huge amount of money on a trip, said Schulz.

He also agrees that the personal feel of a vacation rental can have tremendous allure. “It can make you feel like a local rather than a tourist,” he says.

Reasons travelers prefer vacation rentals and homeshares

While millennials prefer hotels and resorts, they are the most likely group to prefer vacation rentals: 32% said so, versus 29% of Gen Z and 28% of Gen X.

No matter the generation, however, price wasn’t a top factor for choosing lodging, as many consumers said they were set on their preferred lodging type, no matter the cost. The majority (54%) said they only comparison shop within their preferred category (i.e., checking prices for several Airbnbs, but not comparing those costs to a nearby hotel).

Others are even willing to spend more on their lodging preference: 37% said so for hotels, and 23% for vacation rentals. That still leaves the 4 out of 10 cash-conscious consumers who say they would pick the cheapest option from among hotels and vacation rentals.

Would you spend more money on preferred lodging or pick the cheapest option?

“Shop around is almost always good advice, and travel is certainly no exception to that,” says Schulz. But price is just one of the factors that goes into picking the perfect place to stay on a vacation, he adds. “Ultimately, if paying a little bit extra to stay in your ideal place will make for a better vacation, there’s nothing wrong with that. Just don’t put yourself into debt in the process.”

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