Location: okay, but not great. Not so close to many sites but close to public transportation and city sightseeing buses.
Room: the first room we were showed to reeked of smoke. We had asked for non-smoking so we switched. This room had a funny smell but after leaving the window open for a while the smell wore off. The room was nice sized, and had a little kitchenette. A/c worked well--important, as it was really, really hot in Madrid. The beds weren't so comfortable and the furniture was a bit run-down. But wasn't so surprised because the hotel was pretty cheap.
Our only real problem was the reception. They were very nice and accommodating but they didn't know English. When we arrived, there was one person there who didn't know English, but the next morning there was one woman who did. Later when we returned, no one who knew English. A little annoying when we needed directions and other help, but they tried. Also, we saw a cockroach in the lobby. Was quite funny actually because the receptionist said, "Cucaracha!!" We all thought that was pretty humorous.
Overall, would I stay there again? Probably not but I wouldn't rule it out completely.
