While Rivendell would more naturally seem the place to stay for a long time at this point Bilbo must feel like he can almost see home. Rivendell is the last Homely House before the wildnerness - so going back in the opposite direction it's the beginning of 'civilization' again. Just a couple of weeks and he's home.
Either that or Bilbo had really had enough of Elves by this point!
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“If more of us valued food and cheer and song above hoarded gold, it would be a merrier world.”
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