Wealthy Americans shunning luxury hotels for $20,000-a-week villas

Wealthy Americans are vacationing in style this summer and shunning luxury hotels for $20,000-a-week villas.

Industry professionals say people are heading to Europe in droves but more of them are choosing to rent sprawling estates.

Rich tourists are now choosing to book entire residences when they travel because they do not want to share pools, restaurants or other amenities with strangers.

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