Well, that depends on what you want. We stayed at Hosteria Las Torres because Explora was full, and were quite glad we did - it is right at the beginning of the trail up to the Torres del Paine proper (not that we are serious mountaineers by any means...). We had rented a car in Punta Arenas and thus drove around the park on our own. The hosteria was fine - we were actually in the older building, so it was a bit rustic, but fully adequate. Rooms were around a central "living room" with a fireplace, where you could read a book, etc., and all the rooms have a private bathroom. Food was OK - good, but not spectacular.

On one of the days we had lunch at Explora, and it was very nice. However, all the activities/excursions I think are included in the price, so that you are shuttled around in a van and have to keep to the schedule of whomever is driving/organizing (the Explora vans passed by us all the time). The whole thing seemed to cater more to "older" "Americans" who are maybe not so comfortable with independent travel. The property I believe has a spa and a pool, which may be nice to have - as far as level of comfort & amenities, yeah, Explora wins hands down. But for us, the big price difference between Explora and Las Torres would not have been worth it.