I think it is a matter of preferences. I prefer Airbnb, but that is just me. In Brazil, I often have GPs hanging out with me for long hours, being in an hotel room would not offer the variety of activities we can enjoy in a full apartment.
About whether or not you can bring visitors, it depends on the hotel and on the Airbnb rules. When I find an airbnb that I want to rent, before confirming the booking I contact the host and explain that my intention is to hang out with friends during the day (I do not like overnights). So far, I've never had an issue.
Although I do not prefer overnights, many times the guys asked me to stay. I had an issue with that only in my last time in Rio. I rented an airbnb quite similar to an apart hotel, and they had a strict policy about guests leaving before 10PM. However, in my experience this has been the exception and not the rule.