As the locus of adventure travel in the lake district, Pucón  offers activities ranging from climbing Volcán Villarrica  to rafting the Río Trancura , hiking at Huerquehue, horseback riding, fly-fishing, skiing, and visits to nearby thermal baths. Competition—often cutthroat—can keep prices low and temperatures high among local operators. Occasionally, though, they manage to cooperate in putting groups together, especially outside the summer peak.
Commercial operators include French-run Aguaventura (Palguín 336, tel. 045/444246, www.aguaventura.com ), Andén Sport (O’Higgins 535, tel. 045/441048, fax 045/441236), Expediciones Trancura (O’Higgins 211-C, tel. 045/443436, fax 045/441189, www.trancura.com ), Politur (O’Higgins 635, tel./fax 045/441373, www.politur.com ), and Sol y Nieve Expediciones (O’Higgins 192, tel./fax 045/441070).
Best known as a place to stay, noncommercial Hostería ¡Ecole! (General Urrutia 592, tel. 045/441675) organizes groups to visit the Fundación Lahuén’s nearby Santuario Cañi  forest reserve, and other alternative excursions, and offers suggestions for independent excursions.
Mario’s Fishing Zone (O’Higgins 590, tel. 099/7607280, www.flyfishingpucon.com ) is a fly-fishing operator.