Additional pros:
If you have pets its easier to travel and find places to stay.
You can prepare your own meals which is much cheaper, healthier, and usually more convenient than eating out all the time while on the road. I think this alone compensates for the additional fuel costs and then some.
You already have a good tow vehicle for a smaller travel trailer.
You can buy used and eliminate much of the depreciation.
Its really easier to prepare and go than packing for motel stays once you have the trailer set up the way you want. If you keep a set of clothes, personal hygiene articles, etc, in the trailer really you only need to bring perishable food.
If you stay in public parks its much cheaper than hotel rooms.
Additional cons:
You will have increased maintenance labor and expenses. The workmanship and materials on most travel trailers is not of the highest quality, and you have more wheels on the road and more tow vehicle maintenance as you are using it harder.
You will be driving more slowly so will have to plan for more time on the road.
If you aren't used to towing you will need to adjust to where you park and pull into gas stations, etc.
It will take you longer to get going in the mornings and set up for the evenings.
if you wind up not using the trailer much it will sit and end up taking you longer to prepare which will result in less use, becoming a vicious circle.
So I think the main thing to ask is, is this how you want to spend your limited time off work? When I was working full time I got rid of my RV because I wasn't using it enough. I got to where I avoided dealing with it because it always needed something done before I could use it. Now that I'm retired and I got another one I use it 40-60 days a year, its always ready to go, and its great.