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Deciding between an apartment and hotel room(s) - price seems about the same, what am I missing??

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I've been researching hotel and apartment rental options for a family trip to Rome and possibly London over the holidays in December. I was hoping to see a significant price difference between a 2 bedroom apartment and 2 hotel rooms but am finding that they are within $100 of each other - even in the same neighborhoods and with the same kind of amenities - 3* hotel as the baseline. I know that we can cook in the apartment but that wont' happen every night (its my vacation too!) and breakfast is included with hotel rates. We've always stayed in hotels before so this was a new idea. Am I missing something?? And, while I knew London would be crazy expensive, I was still quite amazed!!

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