Santiago's accommodations range from luxurious hoteles to comfortable residenciales, which can be homey bed-and-breakfasts or simple hotel-style accommodations. All the construction in the past decade means competition between hotels is steep, but they still fill in the high summer season and when large trade fair or business conventions occur (March is a peak month). Outside these dates, you can often find a room for up to 20% less than the advertised rack rates, particularly if you stay for more than a couple of days. Call several hotels and ask for the best possible rate. It's a good idea to reserve in advance during the peak seasons (January, February, July, and August).
Some hotels, particularly more expensive ones, quote prices in U.S. dollars rather than pesos. Visitors from abroad are exempt from the 19% sales tax, provided they pay in foreign currency or with an overseas credit card.