All overnight accommodations at Valle Nevado are owned and managed by the resort and unfortunately expensive. There are less expensive options outside of the resort area, closer to the resorts of El Colorado and La Parva. You can even commute from Santiago from the greater Farellones area.
Hotel Puerta del sol at the base of Valle Nevado
Hotel Valle Nevado
Colorado Apart Hotel at the El Colorado ski resort near Valle Nevado
Hotel La Cornisa - Farellones: conveniently located just below the fork in the road to La Parva and El Colorado
Hotel Posada Farellones: after the fork in the road to Valle Nevado and before the fork in the road to La Parva and El Colorado
Casa Arrayan - High-end, but not expensive, boutique hotel close to Santiago but on the road to Valle Nevado. Fairly long commute to the slopes.