Since light and sound travel similarly, then would a well illuminated room have a lot of echo as well. (supposing light and sound bounce off the walls with the same potency)
Well... light and sound are two different wave types. Light and sound are not dependent on each other, so light travels like if you shine a flashlight in a dark room, the light eventually dims. Sound dims as it goes forward, but I did a project on this and light really doesn't change anything for sound.
Sure, light will bounce around to some extent. But you cannot liken light to sound. Light is simple electromagnetic radiation that our eyes can respond to. It is unimportant where the light that illuminates comes from, whether (say) directly from the sun, or by reflection. If a room has white or bright coloured objects in it, it doesn't matter what direction light hits it. The reflection is diffused in all directions. If you had direct sunlight lighting a yellow wall, and the rest of the walls were white, they will take on a yellow hue.