I just stayed here two nights on the tail end of a trip to Madrid and the surrounding region. The room was the most impressive - very clean, cheerful and quiet. Downsides:there was no breakfast included in the price, the staff do not always speak English (was ok as I have some Spanish), they forgot to call me in the morning as requested, the location is so-so (not that pretty, but fine for 2 nights).

Im not fussy and i used to live in Madrid, but i felt totally unsafe sleeping in this hotel.. its not a hotel, its a Pension, more like a Hostel with a nice bathroom id say. But although it was quiet, and close to Plaza Castilla and Metro, this is good... until the Obras( roadworks) started in the morning at 7am i couldnt get back to sleep. The lobby loos nice and there is a breakfast area. Internet doesnt work, as the computer screen is broken. I had a problem with my Aircon and the vent was not screwed in and on the floor, so i asked the reception.They said they would sort it out straight away, but when i came back from popping out, nothing was done. The bedrooms have one lock, and walls need painting as there are scuffs and dents in the walls.

I didnt feel safe as i was also on the top floor end of corridor. Even though i arrived at 3 in the morning, i left later that morning by Midday as i would no way be able to sleep peacefully feeling safe.

The hotel was located very near to a metro station called Valdeacederas of Line 1. The station is at Murillo road. Just follow the street Via Pinos Alta to reach the hotel. We booked a double bedroom for 53 euros in this hotel (in July 2007). Breakfast was not included in this but was available for additional 7 euros. Our room was quite small though it was beautifully decorated with pink colour and floral prints. It had a tiny bath with very little scope for moving our hand around. The locker was not working in our room. The air conditioning was very good. The receptionists knew english but they could not help us with our queries about metro and tourist spots in madrid. They also donot keep a madrid map for their guests.
There is a general store very close by with resonable prices - around half of what we are generally charged at tourist spots.

My wife and I stayed here for 3 nights based on a review we read on this site. When we received the key to our room we were suprised to see 2 twin beds (attached to the wall), instead of the double bed we booked. Not very romantic, and the desk clerk didn't seem to care. Overall, the hotel is okay if you are looking for a cheap, clean bed, but don't expect more more than that. Here are our thoughts:
PROS:
-Very clean and newly renovated hotel
-Large room by Euro-standards
-Quick walk to the Metro to get downtown
-Air Conditioning works well (It was HOT during our stay)
CONS:
- Out of the way of tourist attractions and good restaurants. The neighborhood had some good local places for Bocadillos and Churros con Chocolate, but not much else.
-Very uninterested desk staff; not pleasant but not rude either - just there
-Sub par breakfast (cold eggs / meats, juices and yogurts were warm, not much fruit)