Hotels are as expensive as they have ever been. Ironically, at the same time we’ve never had more economical alternatives to choose from – largely due to the rise of the sharing economy. When you think of inexpensive alternatives to hotels, the first things that come to mind are likely hostels, Airbnb and Couchsurfing, but those just scratch the surface of so many other options for you to consider. 

CLICK HERE to see me present inexpensive alternatives to hotels on Breakfast TV. 

1. Home Swapping is mutually exchanging places with others for your holiday. This can be as simple and as safe as exchanging places with friends and family you know and trust. Hotels are often not a viable option for families who need bedrooms for the kids. That’s why I recommend families exchange homes with other families that have the same number of kids in the same age range. This way you’ll have the right number of bedrooms and toys that are age appropriate.

Whether you are seeking a nearby escape or to travel abroad, home swapping is an equally viable option. City dwellers are looking to get to the lake on weekends whereas those in the country want to visit the city. The biggest concerns I hear about home swapping are: 

1. Don't want others sleeping in your bedroom? Don't worry, just lock the master room, and guests can stay in the guest room.
2. Worried house guests may damage something? Since no money is exchanged, your home insurance should cover anything that may get damaged. *Check with your insurance provider to make sure.

HomeExchange.com is the largest home swapping website and was featured in the hit movie ‘The Holiday’ staring Cameron Diaz and Kate Winslet. Home Exchange has over 65,000 listings in 150 countries. You can review member’s home swapping history and read reviews about prospective swappers from fellow swappers.

The only cost to using homeexchange.com is a $150 annual membership fee. 

2. House Sitting is a form of voluntourism where you get free accommodations for taking care of house duties while the owners are away. There is a large demand for pet sitters where travelers are looking for caring trustworthy people to take care of their pets while away. If you work in a trusted position, such as a teacher, house cleaner or maid, you will stand out above people who don’t have that experience.

The most reputable house sitting website is TrustedHouseSitters.com. Some of the most active house sitters are veterinarians who can certainly afford to pay their way, but enjoy caring for pets.

3. Thousands of University Dorms have empty rooms from May through August. Many offset their operating costs during this time by renting out rooms. The best deal I every found this way was a bed and breakfast at the University of London for just 55£/night. Prices seem to be a little higher this year, but it is still hands down the best deal in London, and is just a few stops on the tube from the West end theater district.

Before booking your summer accommodations, visit the website of any college or university at your destination to see if they have rooms for rent. You can also browse the listing posted at UniversityRooms.com which is a website some universities use to post available dormitory vacancies.

4. Camping is part of the summer travel experience, and you will be amazed at how many free campsites surround areas you have long paid to camp at. In seconds, you will find free campsites at your desired destination at FreeCampsites.net.

5. Timeshares routinely offer steep discounts to stay in their fully furnished condo style accommodations in return for attending a 60-90 minute no obligation timeshare ownership presentation. To qualify, you will need to meet a minimum income requirement which varies by travel operator.

I’ve been doing this for nearly 15 years and have stayed in luxury condos everywhere from Puerto Vallarta, Sedona, Las Vegas, Manhattan, Collingwood and Whistler.

An easy way to get invitations to timeshare ownership presentations by attending travel shows and vacation ownership shows. Nearly all exhibitors offer prize giveaways which I always sign up for. Although I have never won the prize being offered, I always get a follow up call offering me an inexpensive stay in return for attending an ownership presentation. 

CLICK HERE to see me discuss this on Breakfast TV. 

Russell Hannon uses lean principles to travel at a fraction of the going rate. He has been featured on CNBC, FOX, America Tonight, CBS, CTV, CBC, the National Post and Around the World Travel TV. He is the author of amazon.ca Budget Travel #1 Best Seller ‘Stop Dreaming Start Traveling: The Ultimate Guide to Traveling More & Spending Less’.

FREE GUIDE: Download 'Beat the Best Online Fare - Every Time, Every Flight' at BreakTheTravelBarrier.com