I would say that it really does depend on the type of experience that you are craving. Hostels are very well suited for the adventurous ones among us, and I spent quite a bit of my younger days staying in them. This is because you can meet new people from all over the world, and they are cheap which is perfect if you are on a budget. However, if you can afford to spend a bit more, there is nothing wrong with booking your own private room. In this way, you get more space to store your things and the benefit of your own privacy to appreciate in your free time.