Compared to what? I'm staying in a Residence Inn in a week for basically the same price as the nearby standard Marriott and Sheraton are. And Residence Inn is probably on the higher end of the big chain suite brands. They're not budget but they're squarely in the same range as midrange business hotels in general. They're generally what I book if they're a good option.

I’ve routinely found that Airbnbs are about 1/2 the price of hotels, with more amenities and classier design to boot, no matter where I visit (assuming Airbnbs are legal there).

$300 or more a day is beyond the pale IMO.