Best way to Sell advertising space on a website?

What would you say is the best way to sell advertising space in banner form on a website?

I'm thinking of a setting up an accommodation website that could provide banner advertising on the side of the page to related businesses e.g certain types of insurance providers.

Would you approach the businesses or go down the more affiliate marketing route?

Many Thanks

PS any tips on e-mail marketing to attract customers or would you go paper based saleletter when attracting accommodation providers.
 
No I will be keeping adds to minimum and directly relevant to my clients and their clients customers. Late rooms looks good but unfortunately it might take away from my own clients thinking in terms of property & travel insurance, car hire etc.
 
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