Located directly above Placa Oriente where street performers come out at night with the national theater just meters away, you're paying for location here.
The room was nothing to write home about, clean but small. Decent selection of cable channels. Reception was unobtrusive and spoke limited English. No restaurant on-site but tons right in the vicinity.
However, as previously mentioned, walkable to almost all major sites in the old part of Madrid. El Prado Museum would've been maybe the farthest, at 20-25 minutes away, but the Madrid metro is excellent.
Overall, Hostal Oriente represented good value for a clean, decent property with an excellent location. My room faced the inner courtyard so there wasn't any extraneous noise, but walls are relatively thin so I could hear snoring from another room (!) I was happy with my stay and would recommend.
Travel tips: (1) It’s worth checking on-line to see what events are on during your visit. You may be surprised to learn of the many free things available. For instance, I lined up with the other (cheap… er, budget conscious) artlovers at the Prado Museum. Usual entry is €10 but the museum is free from 6-8pm. The line moved quickly and within 10 minutes, we were in. Invest €3.50 of the money you saved on an audioguide, an excellent resource for giving the history and interesting backstories of the many Biblical and mythological-themed works. (2) Another valuable freebie is Sandeman’s city tours (www.neweuropetours.eu). Done by excellent passionate freelance guides, there are free walking city tours (guides work on tips only) as well as reasonably priced paid tours in 14 cities across Europe. (FYI, the guide must pay the tour company €2.50 per passenger, so remember to factor that into your tip). The 3 hour walking tour I did was an excellent orientation to the city. (3) Using the metro from the airport to get to Hostal Oriente was an easy 50 minute trip. Yes, you have to change lines twice, but I arrived in the early afternoon and the cars were never overcrowded. Madrid offers discounted 10-trip metro cards. There is also an unlimited 2-day tourist metro card that is roughly the same price. However, note that trips to / from the airport will require a €1 supplement.
For more travel tips on things to do in Madrid, including catching a flamenco show and where to find the best tapas, check out my travel blog as I take a trip around the world.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC