There are many outdoor activities in Peulla, all organized by the Lake Crossing (Cruce de Lagos) company. As there is no competition, prices are (too) high. However it is difficult to go out on your own, so you don't have much of a choice. And the alternative to just stay around the hotel is not very attractive, as there is really not much going on. Activities and excursions offered are: 4-wheel drive, hHorseback riding, hiking, fishing and canopy.
Cerro Tronador is the tallest mountain of the area (3,354 m). It is a very beautiful maountain, especially from the Chilean side. It is snow-capped all year. You need special equipment to climb it. The Lake Crossing company at Peulla does not organize any hiking excursions to Cerro Tronador, though they will let you go out of their buses to take some pictures.
The Lake Crossing Company organizes some hikes. There are a few challenging hikes that start right from the hotel. The Lake Crossing company may suggest that you can't do any hike without them, but that is not true. The hikes to the viewpoint above the hotel (Mirador, 5 minutes one-way) and the waterfall (Cascada, 30 minutes one-way) seemed safe do on your own. Just find the bridge shown on the first picture and follow the track!
Please note that the track goes through a rainforest, so it is always wet and slippery. Though the track is maintaned properly, the vegetation grows so quickly that especially tall people have to watch out carefully!
The snackbar on the ground floor of hotel Peulla offers cheap lunches for day guests. It is very crowded at lunchtime, and the service is not very good. Besides, the place is not very clean. As the precies are marginally lower than in the restaurant, we wondered what all these people were doing there. The quality of the food was pretty average.
The restaurant of hotel Peulla is has a simple and short menu, though not too bad and inexpensive; which is remarkable as hotel Peulla has no competition apart from their own snackbar. If you don't expect too much, you won't be disappointed.
Favorite Dish: Just take the menu and you won't be hungry any more.
A very annoying thing was the numerous flies in the area. It was impossible to go outside without being attacked by lots of big, black flies trying to land on you head or clothes (especially dark colours). I guess that it is something typical for the summer period. The locals told us that you can't really do anything about it, but something that helps a bit is to get a pole, hang a dark coloured T-shirt to it and carry it with you all day.