Stayed here for 3 nights. It was an excellent choice for a weekend base. It's 2 minutes walk from Puerta del Sol in the heart of the city. It's not 5 star but what you do get is a central base in a clean hotel for £50 a night which is very good value by Madrid standards. Loads of places to eat and drink with walking distance. Would highly recommend if central is what you are looking for.

This great place offers fantastic value for money in a brilliant location in the very centre of Madrid. The room we stayed at had a little balcony overlooking Calle de la Cruz and we could just about see Casa de Abuelo-a wonderful bar serving gambas al ajillo (prawns in garlicky, spicy oil) and vermouth on tap. The room itself was clean and modern and equipped with all you might need! I would definitely recommend it to anybody who wants a nice, clean place in the centre of town!

This great little hotel offers fantastic value for money in an excellent location, right in the centre of Madrid.
We have stayed at the Marlasca on two occasions and intend to stay there again soon. It has authentic Spanish character and the rooms, although not luxurious, are clean and nicely furnished, with en suite facilities. The air conditioning makes the rooms comfortable even on the hottest days. A great advantage is that you're situated close to everything in the heart of the city, being just around the corner from Peurto del Sol and Santa Anna Square, as well as being close to Plaza Mayor. I would definitely recommend it.

The hostel is an old house but the rooms were remodeled to provide the basic conditions (the floor is wood, has electric shutters which don´t let pass the light, has LCD and air conditioning and the toilets are small but modern).
The decor has nothing to recommend it and there are some crashes that could be avoided (I could not understand how to turn the lamps on in the bed, the phone had no information so I do not know how to contact the reception, for example).
The staff was friendly and kept the bags even without the check-in.
The location is great of course. But any hostal/hotel near the area of Porta del Sol are great location an there are a lot of them.
For a 2-star hostel there is a good option price / quality ratio.
The only problem is that the street noise. We got a room at the 4th floor and in the evening there was a lot of noise. If for you the noise is a problem you can not choose this hostel or any other of this street.