The hotel is a bargain. It is clean, has the basic amenities, and staff were very helpful. The hot breakfast was fairly complete but not luxurious, but hey, this hotel is not luxurious. It is well located and fairly close to the airport. No shuttle, bus comes right by the front door. A metro stop is a hilly 8 minute walk away. We stayed with grandchildren ages 6 and 11 over New Year's Eve and Day, when restaurants and basically all stores in Madrid were closed.
TIP: What saved us with food were two little places not even noted on Google Maps: Both are located on the North side of East-West street on which the hotel is located, the Calle de Condessa del Vendaito, about a half block East of the hotel on the North side of that street. They are clearly visible in the Google Street level photo maps.
VIPS - A restaurant that serves a tasty bit of everything including American fare. It has no special Spanish food or delacacies, but it had the great advantage of being OPEN at just about all hours. It is not fast food, but perhaps equivalent to Shoney's in the U.S.
OpenCor - This is a small but rather well-stocked grocery store with gift items, magazines, toys, meat, deli, and actually a bigger quick mart. They have enough food for a picnic lunch in your room or out in the park. And they are OPEN at all hours, a lifesaver with the kids.

İ paid 39 eur for one night and stayed almost a week! Stuff were friendlh and helpful. Food was quite good but i didnt try the breakfast as usually i dont have! There js a supermarkeg cross the road and metro is like 10 minutes distance! Room was clean and def worthed it! İ would stay there if i will ever go!!

I stayed here with a friend between 16-19 December 2011, and paid €39 for three nights (booked during the Travelodge sale).

Above all, the room was very clean. It could have done with a few more comforts like extra towels and a bath mat, but what do you expect for the price? The staff were efficient and friendly, and were on call 24/7. We didn't try the food so can't comment on that.

We found the best way to visit the centre of Madrid was via the Metro, which is excellent. The nearest station is a 10 minute walk away, and the journey takes about 20 minutes. I would recommend buying 10 journeys when you get to the airport as we found this was the cheapest way to travel around (about €10). It's really easy to navigate your way around the city using the Metro, but a little bit of Español helps. Good luck!

My girlfriend and I recently stayed at this hotel and it was perfect for us. At 83 Euros for three nights it was great value. With a bus stop right outside it was easy to get to from the airport and easy to get to the city centre plus you get to see the area outside the centre. Most of all the bed was comfy and it was clean!! Would definitely recommend.