We stayed at this hotel for 3 nights in January 2012. The purpose of our visit was to go to watch the football, my husband is a great fan of Real Madrid. The hotel is the perfect location to visit the Bernabeu Stadium, only 4 stops on the tube and no need to change - perfect!.
It is also only 5-10 mins walk to Puerta del Sol (the centre of the city) where everything goes on. The hotel is very clean and basic, just what you need. You dont spend time in your hotel room when you go to Madrid, there is soo much to see. The hotel is located just off Gran Via on a side street so no noise from the main road.
For those of you that like the english fast foods, there is a KFC on the corner and McDonalds 2 doors away from that.
We did not have breakfast at the hotel so unable to comment on this.
The rooms with double beds rather than twin beds are much smaller and do not have a bidet in the bathroom.
However, we did not spend much time in the hotel, so it didnt really matter.
The beds are very hard, but we did so much walking and were so tired we could have slept on a washing line!
The towels are old and need to be updated but they do the job, and dependant upon what room you have, the shower can have a mind of its own!
It sounds like I am moaning a lot, I am not, just trying to make you aware of what its all about.
We visited the Museo Del Prado on Saturday only to find out later on that it was free on Sunday mornings! I assume you will have to get there early though.
We already looking to go back to this hotel, its cheap, clean, basic but has a perfect location and everything you need on a visit to Madrid.

Room of a very good size (comparing to 3 star hotel in London), nicely furnished - nothing fancy but really nice.
Quiet (as much as possible in the middle of a city living at night). Bathroom - very good, all what you need was provided.
All was very, very clean (didn't see such a clean hotel room for long time).
The staff was very nice, smiling and helpful.
Location - perfect - 10 minutes walk (max) to the Plaza Major. Walk back to the hotel at 2 am at night in July was safe (crowds on the streets as at noon in London) - hotel is just off one of main streets in the center of Madrid.

We didn't take breakfast in the hotel - dining area looked ok but we preferred coffee and sandwiches either in the The Mercado de San Miquel (delicious) or in the bakery Le Pain Quotidien just nearby the hotel (http://www.lepainquotidien.com/)

All that you could want from a reasonably priced central city hotel, The room was not special, but very adequate and clean; bathrooms were compact but clean and functional. The staff were very helpful and could provide answers to my questions, from where could I get a power adapter (the answer being that I could borrow one from the hotel), to directions, trains, tubes, etc. We decided not to have the breakfast option thinking that we could buy it on the street for better value, but we were wrong. Wifi in the room worked well. I'd go back there again.

Why is this hotel getting good reviews? I can't believe it. It's the worst hotel I've ever lived in, and it truly does not desvere any of the ratings I've seen. They are misguiding. The rooms were old, dirty and dark, and I had no view. The worst part was the service. The staff was unfriendly and rude. I paid over 100 Euros for one night, and they charged 10 euros for a terrible breakfast that they called "buffè" It was just uncomfortable to stay there. I ended up moving to a friendly and clean hostel where the service, location and rooms were great. I also paid half of the price! My reccomendation is to skip this hotel and check into hostel Triana. I loved it!