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TravelHaven News Brief — Hotel Rates

As more travelers book vacations, demand for hotels is rising and so are room rates. The daily rate at U.S. hotels averages $110.59 this year, up 4.1% from 2012 and up 12.6% from 2010, according to professional-services firm PricewaterhouseCoopers. The average price is expected to rise to $115.68 in 2014.

There’s another, cheaper alternative: Travelers can reserve apartments or homes in their destinations at a lower price with more space to boot. Several services, such as Airbnb and Vacation Rentals by Owner, allow consumers to choose from an assortment of homes to stay in. Some owners also offer free airport pickups and drop-offs.

It can also be more helpful and cost-effective for large groups that are traveling together (you can book a large home with many bedrooms) or families with young children who require privacy and can cook in the home rather than paying to eat out. The downside, however, is less security than what hotels offer.