I always look at Airbnb first when traveling because I value options like a kitchen where I can cook my own meals, a washer and dryer where I can wash my clothes, and a sofa to relax on.
Sleeping in an Airbnb is no more local than a hotel except hotels can't get zoning in those neighborhoods and wouldn't get permits for fire safety with those buildings.
For example we were down in LA last month and picked a hotel for the night because the prices were about the same. However in Bangkok late last year staying at an Airbnb apartment was significantly cheaper than a hotel (roughly 1/3 the cost for the duration).
EDIT: Luxury condos in Bangkok I find to be very nice. Last one I stayed at had gym, roof top infinity pool, movie theatre, library etc. And it was a few minutes to the MRT.
I have to say though that I hate that they lie about the price/night.
Also the case in Australia where I live, the hotels are super expensive, easily > 150 a night for pretty low level.