First, be wary of the star system. A three-star hotel in Peru can range from equaling a 5-star hotel in the United States with better food; or it might serve eggs as breakfast every day, lack hot water, and have nasty little bed bugs whose bites you have to convince the hotel workers are not due to mosquitoes (sancudos) despite the scars you might develop.
Speaking Spanish may be an advantage for your hotel stay, since not all hotels have translators or have translators that speak English too well, and be warned that you may encounter some consistently poor English (like a tour guide saying "approximater" instead of "approximately"). For their sake, resist the urge to laugh.
Also, some words translate oddly between Spanish and English. For example, lima translates lime, but it actually refers to a fruit closer to a lemon, and the reverse applies to limón. Salsa (literally sauce) refers to a salty cheese sauce; a spicy tomato sauce is picante. Be careful about assuming word equivalents from menus, and if you are squeamish about seafood, avoid mariscos (shellfish, including squid and manta ray) and civiche (raw fish "cooked" by soaking in juice from the region's highly acidic limes).
Bear in mind that Peru as a whole lacks or has trouble getting certain things we take for granted, like screens in windows, hot water, and salads and other such foods that will not give a traveler Montezuma's Revenge. Do not expect them necessarily just because of the hotel cost.
If you are staying in Peru for 60 days or less, you are exempt from the 19% government sales tax on hotel rooms upon proof from your passport.