This is not true at all, I regularly rent Airbnbs in major American cities for less than a quarter of what a basic hotel room would cost in the same location. The AirBnbs are a lot larger and nicer too.

It gets even better when you split the cost with people. I can get a full, nice house in a great location in LA for a little over $200 a night all in and split it with 5 friends. I would have to get a hotel penthouse for the experience to be even close.

And yes, the fact that it's so cheap does significantly increase the appetite for weekend trips for people my age. The housing part of the trip goes from a major expense to almost an afterthought.

Have you seen SF hotel rates during convention season? The most basic rooms go for $3-400. Have you tried to book a Paris hotel in summer? In my experience your statement is not true

Have you tried to book an AirBnb during a marathon? The most basic room goes for $200/night, before you add in the "cleaning" fees or the "service fees" or the other "fees" that hotels are required by law in their original quotes.