FROM THE airport we took the yelow T bus to PLAYA CIBELIS it costs 2 euro each way. 30 mins best deal . hotel is 10 min walk away
Accomodation in Madrid is expensive - you can pay a lot more for a lot less!
clean rooms , comfortable beds, lots of hangers in the wardrobes , tv and all about 5 mins away from wherever you want to be.
The reception area is small, no bar , 1 euro coffee machine , 1 euro 1/2 hr internet or FREE wi fi !! latest password 'apolo'
cant fault this hostel/hotel at all great value and the owner speaks excellent english and is very helpfull as all the staff are but others have limited english but still very helpfull.
Even shared room hostels are about 30-35e in Madrid .finally remember there are no sea views so dont bother with a room with a view ! IT WILL BE NOISEY its Madrid - like trying to sleep near Trafalger Square!
wE HAD A ROOM AT THE REAR of the hotel our view was lots of Air con units on te back walls - but we slept well every night.

Great location for seeing all of the major sites in Madrid. Located on a fairly quiet street in a safe area, it's an easy walk to la Plaza Mayor, Museo del Prado, etc. The building is typical of Spanish hostales, it's older but kept clean. Pilar, the housekeeper, es muy simpática. The elevator goes to the 3rd floor, if you're on the 4th you have to take the creaky stairs. My room was on the street with a balcony. I didn't have problems with street noise, but I suggest earplugs for any place in downtown Madrid. Quadruple 89,00€, triple 75,00€, double 59,00€ and single 42,00€,All rooms have complete bath, ,tv, phone, AC, (visitors may not realize that in many of these places, the AC is operated with a remote control) and tax (iva) included. Enjoyable stay.

I have stayed at the Hotel Residencia Lisboa five times so far. I have to admit that the appointments are a bit worn and if you are on the street side there is a lot of noise. It seems that there are people out until the wee hours of the morning.

But the price and the location can't be beat. Two short blocks to walk to Plaza Santa Ana, five blocks to the Prado. I first stayed there in 2004 and every year there are more tourist attractions. (Hence the late night noise for tourists going from club to club.) I have stayed there twice on October 12 "El dia de la Raza" It seems to be a night for staying out.

There is nearby parking under the Plaza Santa Ana. I will be back in Madrid this year and plan on making reservations at the Hostal Lisboa.