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Chile and Argentina, air/11 nights, from $2,165

/ Source: ARTHUR FROMMER'S BUDGET TRAVEL

The Real Deal: Multicity airfare on Aerolineas Argentina, arriving in Santiago, Chile, and departing from Buenos Aires, Argentina; local flights between Santiago and Puerto Montt on Sky Airlines and between Bariloche and Buenos Aires on Aerolineas Argentina; three nights in Santiago at Hotel Galerias, two in Puerto Montt at Hotel Don Luis, one at Hotel Natura Patagonia during the bus/boat lake crossing from Puerto Montt to Bariloche, two in Bariloche at Hotel Nahuel Huapi, and three in Buenos Aires at the Dazzler Libertad Hotel, breakfast daily except at Hotel Natura Patagonia; all transfers; hotel taxes; and fuel surcharges, from $2,165 per person—plus estimated airport taxes and fees of $140.

When: Jan. 14, 2010; other travel dates may be available through January.

Gateways: Miami; add $67 for New York City, $73 for L.A., $167 for Chicago, $214 for Seattle, $284 for Atlanta, $288 for Denver, $316 for Houston; additional gateways available.

The fine print: Airport taxes and fees are about $140 per person. Based on double occupancy; single supplement is $639. Read these guidelines before you book any Real Deal.

Book by: No deadline; based on availability.

Contact: Latin Destinations, 866/645-2846, latindestinations.com.

Why it's a deal: According to a recent search on Kayak, the lowest multicity airfare (Miami to Santiago, Santiago to Puerto Montt, Bariloche to Buenos Aires, and Buenos Aires to Miami) was $1,413 with taxes for travel in mid-January (LAN). For an additional $892, the Latin Destinations package covers airfare, as well as 11 nights' accommodations, a lake crossing by boat and bus from Puerto Montt to Bariloche, breakfast at most hotels, all transfers, and taxes and fees.

More: Optional activities include a half-day tour of Concha y Torro's wine cellars in Santiago ($107 per person), a city tour of Puerto Varas and Puerto Montt ($79 per person), a half-day excursion to Cathedral Mountain from Bariloche ($136 per person), and a dinner and tango show in Buenos Aires ($121 per person). Extend your stay at the Dazzler in Buenos Aires from $42 per person per night.