Good, now kill him.
It doesn’t say anything in the article about why he decided to plead guilty.
However, if I had to venture a guess, I’d say that his attorney told him that the evidence against him was sure to get him convicted. So he pleads guilty and hopes to get a lessor sentence.
That is what will happen when he is sent to prison. He will not last long. Look at discussions of Peruvian Prisons.
http://www.nodeju.com/17698/joran-van-der-sloot-moves-to-hell-prison.html
In preparation for the trial, van der Sloot is being moved to the Challapalca prison, considered to be Perus worst prison and often referred to as Perus Siberia.
The prison is located next to a military base at an altitude exceeding 13,000 feet, resulting in freezing temperatures; hence the prisons nickname Perus Siberia.
Pic of Prison:
http://www.nodeju.com/wp-content/uploads/2012/01/challapalca-prison-peru.png