Is a hotel or rental cheaper? What to know before planning your next trip

Experts say the best option for you ultimately comes down to what your goals are for the trip, where exactly you're going and how many people will be joining you.

Robert Malcolm is heading to Las Vegas this fall and after weighing the options of staying at a hotel or an Airbnb rental property, he is leaning towards booking a hotel.

“Basically, it’s the Airbnb fees that kill you,” the 38-year-old said.

If you’re looking to get away in the next few months, you might also be wondering how to get the best accommodation experience in the most cost-effective way.

Experts say the best option for you ultimately comes down to what your goals are for the trip, where exactly you’re going and how many people will be joining you.

“The way I see it is, it’s no longer Airbnb versus hotels. They are similar to a certain extent, but they offer different opportunities,” said personal finance and travel specialist Barry Choi.

Airbnb is the biggest name in the accommodation rental game right now and has seen triple-digit growth over the last decade, giving travellers access to unique properties, the ability to live like a local and even find places to stay in the most remote parts of the world.

But its getting costlier to book Airbnbs in many cases as prices rose substantially over the last two years, noted Choi.

If booking an Airbnb is going to cost close to the same amount as a hotel, “I feel like most people will just lean towards the hotel,” Choi said.