Hotel Juan Ladrilleros (Pedro Montt 161, tel. 061/415978, fax 061/412109, afv [at] entelchile [dot] net, US$90/103 s/d) is average in its category.
If only for honoring history’s greatest scientist, Hotel Charles Darwin (Bulnes 90, tel. 061/412478, www.hotelcharlesdarwin.com [1], US$95/110 s/d) deserves some attention; painted in pastels, the 22 rooms range from smallish to midsize, but they’re flooded with natural light and have state-of-the-art baths. Management is accommodating, and the restaurant has an interesting menu.
The handsome Hotel Saltos del Paine (Bulnes 156, tel. 061/413607, www.saltosdelpaine.cl [2], US$95/130 s/d) is more spacious than the Darwin. Hotel Eberhard (Costanera Pedro Montt 58, tel. 061/411208, heberhard [at] terra [dot] cl, US$118/133 s/d) used to be one of the best in its range; it’s still okay, but there are better choices for fewer pesos.
One of the best values in its category is 
Hotel Martín Gusinde (Bories 278, tel. 061/412770, US$116/140 s/d); the off-season rates, discounted up to 50 percent, are a bargain.
Links:
[1] http://www.hotelcharlesdarwin.com
[2] http://www.saltosdelpaine.cl