Pre-COVID, vacation rentals were often a cheaper alternative. Why book your family reunion across a few beachfront hotel rooms (and pay those pesky resort fees) when you can book an entire house a few blocks inland for a fraction of the price?
“Because hotels have lost a lot of their convention business, they are suffering,” Frommer said. “In most parts of the U.S., you’ll now pay less for a hotel room than an Airbnb.”
Not only is there less convention business, but there are also fewer sports events, dance competitions and weddings. With a dramatic drop in event demand, hotels