Posada de Farellones
I stayed at the Posada last year (july) and had a great time. http://www.farellones.cl/
The hotel is vary basic. We stayed in the cheapest room (1 set of bunks, 2 twin beds, bathroom next door). The peole there are great! Pao (sp) is the owner and is a very gracious host. they run 2 busses to the mountains (early and late) and drop off at Valle, el Colorado and la Parva. The ride is only 10 minutes or so. They take care of the equipment and put your ski boots in the lobby for you to boot up before boarding the bus and have your shoes waitiing for you when you return.
The meals are nice (breakfast and dinner included). The breakfast is basic but nice. The dinners when we were ther were incredible. Pao had 2 chefs from St. Moritz cooking for us. Ed and Sebastian were AWESOME. We had 4 course european meals that were amazing (save for 1 unfortunate fish & chips meal that I suspect was hangover influenced).
After dinner, most people grabbed a bottle of wine and retreated to the fireplace room to chat about their day, etc. We were graced with some nice slide shows from the digital camera of a group of off-piste adventurers, and met some terrific people.
I would go back to the Posada without question. The place is far from lux! It is a great place to sleep and hang out if you are there to ski. I think some of the on-hill stuff is much more posh but I really enjoyed the posada.
Hope this helped!