Apartment vacation rentals, such as Airbnb or VRBO, are generally cheaper than the cost of a comparable hotel accommodation. Hotels have a lot more overhead costs than owners who rent out their property through vacation rental sites. However, you do lose some benefits like room service and an onsite team for things like customer service issues, emergencies, or maintenance problems. Prices on private vacation rentals tend to remain more stable and consistent, while hotels practice surge pricing when demand is high. On the downside, sites like Airbnb and VRBO do not have loyalty rewards programs, whereas many hotel chains do. Private rentals tend to be further away from attractions and other amenities, which adds to your shoe-leather costs.