For me, it depends on the location, how long, why and who I am traveling with.

Long term [solo] trips, I tend to do a mix between hostels and hotels. When I want to be social I choose more communal accomodations like hostels and homestays, and when I'm at the point where I need R&R and introvert time, I'll pick a budget-friendly hotel (usually one with a pool if it's not a beach destination).

If I'm traveling with a group of friends, I'm more likely to choose Airbnb or a hostel where we all fit in the same dorm room.

If I'm traveling for a very specific event (usually sports related). I'll choose a budget-friendly hotel or a hostel with a private room (depending on which is more cost efficient) since I only plan to be there to lay my head and not make friends with random people. In these cases, I often pick places that offer free breakfast, if the location isn't near many places to eat or it's an expensive city.