When I arrived at this hotel to check-in, I found two of my fellow guests paying their bill in cash – and counting out coins to come up with an adequate sum. Now I have nothing against extreme budget travelers – I myself traveled this way on my first trip to Europe over 25 years ago. I have many happy memories of those salad days. If you find yourself in that category, I heartily recommend the Plaza de Espana, because it is a palace compared to some of the places I stayed back in the day. However, if, like me, somewhere over the years you "graduated" to the Marriott, Hilton or any of their international or boutique equivalents, you might want to consider staying at, um, one of those places.

Good points: The staff was very friendly and helpful, making themselves understood despite the language barrier. The public areas and the room were clean. Room service is available and the rooms have kitchenettes, so you can prepare modest meals yourself. The rooms have a lovely view of the Plaza de Espana, and if you don't mind traffic noise, you can get some fresh air as the windows do open. The bathroom had a built in hairdryer and there was a safe in the closet. The television offerings included numerous Spanish networks, CNN, RTL (German network) and a station I think was in French. There is a computer with internet access in the lobby that is coin-operated: the price is competitive and you only pay for what you need.

Downsides: The furnishings were quite modest – the bed was hard, the linens were cheap and somewhat worn (although clean). There was no clock, radio or combo thereof. I could not turn on the old, small television until an employee demonstrated the "trick" for getting it to work. The air conditioner wasn't working really well in my room (but see note above about the windows). In general, there was a rundown feeling about the place.

Security note: The hotel still uses actual keys for the room with a huge keyfob that has the hotel name and room number on it – unlike the more discreet unmarked key cards that are common today. Also, the hotel is only half a block from the Metro station, but a building between the station and the hotel is being renovated (as of July 2008). Pedestrians have to walk under a scaffolding that is dark and isolated – fine during the day, but security-minded patrons may want to take care after dark.

Note: The hotel is now part of the Espahotel chain, which has five or six hotels in Madrid.