We are a middle aged couple. Drove a 2-wheel drive car from El Calafate. Roads are rough, but dry on our visit, so no problem. We only had two nights in Torres de Paine. Wish we had a week. Rio Serrano is well-located if you have wheels. It would be especially convenient if you are coming from Puerto Natales.
The rooms are basic, but very clean with modern bathrooms. Public areas pleasant. Good restaurant. Very friendly and helpful staff. We were pleasantly surprised to have broadband web access with a borrowed computer. (And 162 channels of Direct TV in the bar!)
We looked at Explora. It is clearly a step up from Rio Serrano, but might be "too sweet" for many.
We stopped for lunch at Lago Grey Lodge and would certainly consider staying there on our next visit.

who needs one??????? just look to the window and the breathtaking view that is going to open before your eyes is simply amazing, there are no real words to describe that view.
The room was ample and clean, food was pretty good (bit expensive, but nothing is cheap down there), and the best of all (aside of the view) was the service that the guys at the hotel gave us.
That little golf court is pretty amazing too, not because of the golf itself but because of the background image.
There's no need to pay $1000 a night in Torres del Paine.

We stayed here on a tour of Patagonia, so we did not have to arrange the transportation. Can easily understand the need fo 4-wheel drive. At first, we were disappointed to be outside the park. However the view from our room made up for it all. Be sure to get a river side room. You are looking directly through a picture window at the most famous of the Torres del Paine. A couple of added points. There is a fixed price dinner, which is expensive (about $45 per person), but we thought it was excellent (included one glass of beer or wine). No other choices in the "neighborhood", so be prepared. Also, we had looked at the website before going and saw that it had a small golf course in front of the hotel. My husband actually brought a few golf balls, which he needed. They provided the clubs, and there is no fee. The course is small and certainly not green. But you couldn't beat the view. Attached photos were taken from our room. Chile is currently quite expensive for Americans. You have to decide if the comfort and VIEW are worth it. I equate the view to be almost equal to the Falls View from the Sheraton Iguazu. Spectacular.

In Torres del Paine you have very limited options to stay. If you have the time and physical ability to walk around and stay in Torres for 4 or 5 days, walk around with a tent or sleep in a refugee.

If you only have limited time, and don't want to spend 300 US dollars per night, you only have 1 option. Posada Rio Serrano, next to the entrance of the park. Don't expect anything for the 85 US dollars you pay. The double room we booked was nothing more than a very little room, with a bunk bed. Not a romantic get away! The shared shower and toilet were both very basic.
We hated it so much that we only stayed 2 nights of the 3 we payed for, and spend the last night 280 dollars in the overpriced but luxury hosteria las torres, also in the park.

The only good thing about the posada is the restaurant. This restaurant was excellent. The (simple) food they prepared was very tastefull, and the waiters were very friendly and polite.