Could not ask for a better location. Easy walk to Puerto del Sol, Plaza Mayor, Plaza Santa Ana (for tapas). Also, could walk to the Prado and the Thyssen-Bornremisza Museum. Good bar across street for tapas. Stayed 5 nights beginning Spetember 29th with Road Scholar. Seemed to be mainly a tour group hotel. As many as three groups at a time. Breakfast was good. The biggest negative was that half the rooms did not have air conditioning. From what I could make out there was a problem with the system that affected many rooms. Windows open, but street noise is lound. My ipod helped a lot for getting to sleep, but garbage trucks at 3:30 were my wake up call. In room safe has a daily charge, which was waived for our group, but there was a 20 Euro deposit for the key. Front desk staff spoke English well. Would probably not stay there again.

Stayed for 6 nights with my family at wonderful Madrid in this hotel.
Good:
LOCATION! We walked everywhere by foot with 2 kids aged 7 and 10!
Rooms are clean.
Got 2 rooms with connecting doors, as we asked a few days before arrival. They were at 1st floor facing a patio, so they were very quiet.
Breakfast buffet was good (although we twice found sanitary issues).
Bad:
We woke up sometimes in the morning form waiking up calls to other rooms.
Bathroom cosmetics: Only Shampoo and soap bar are provided.
Bottom line:
I would go there again. Fair price for reasonalble value.

The Hotel Gaudi as it was named when my wife, sister in law and I stayed in July has a great location with major attractions like Retiro Park, Puerta del Sol and Plaza Mayo within easy walking distance. The hotel is somewhat dated but the staff were excellent throughout our stay. The rooms vary with the room my wife and I staying in being somewhat small but adequate however my sister in law was in a large room with a balcony. The reception area has the bar which is again very small however being on the Gran Via there are restaurants and bars aplenty just minutes away. The breakfast provided the hotel is excellent and overall I found the hotel to be good value for money.

Spent 4 nights at this hotel as part of a large family vacation. 20 people total. The staff was wonderful. Our rooms were ready for us early which was so nice after a long flight from the US. Our room was spacious and quiet. The breakfast buffet was excellent. Would definitely stay here again.