We were a party of 10, staying for 3 nights in mid November.

The hotel is located in a square and although tucked away, it takes less than a couple of minutes to reach Sol and from there you can pretty much do anything, and go anywhere! The staff were very helpful and friendly, and despite us being such a large group they did their best to accommodate us the best that they could. Free wi-fi was a welcome addition (you'll need to ask at the front desk for a code).

The rooms were very clean and modern, and the decor for each room was very different to the next. The bathroom was clean and large, the shower had 3 settings, rain, hose and massage. I wasn't tall enough to utilise the massage option but the rain head was certainly very nice. The only problem with the rooms was ventiliation - we found it got very hot very quickly and there was no air conditioning unit in the room.

Though a word of warning - as nice as the hotel was, it's located in a very lively and noisy part of town. The square seems to be a meeting ground for very merry folk who enjoy singing, shouting and hanging around, particularly very late in the evening up until the early hours of the morning (but not the dangerous types in case you're wondering!)

This hotel is therefore suited to those who don't mind noise and enjoy the convenience of having bars, restaurants and clubs within a short walking distance.

When we arrived at the hotel we were told that they didn't have any rooms for us as several guests are sick and did not checkout. They claimed they didn't have our contact details (which is impossible) and therefore were unable to let us know. Instead they put us up at the High Tech President Castellana Hotel which was located way across town and a distance away from the main shopping, eating and sightseeing area.
We stayed for 3 nights. The hotel doesn't have any restaurant. Had to go down to ask for hot water. Staff at the desk were quite helpful. We need to call a doctor and they managed to get a doctor to come past midnight. The rooms were weird. The double room toilet was all glass and no privacy at all. Water leaked from the bath tub. The twin room toilet had some kind of screen pasted on the glass but was still see through. Overall, it was not a very comfortable stay for us.

Just returned from a 4 night stay at this hotel.
Pros
Fantastic location – very central, Great number of restaurant / bars within walking distance. Friendly Staff, Room modern with a good power shower and very clean.
Cons
Very, very noisy – drunks in the square until very early morning (up to 5.00am) singing, shouting that seems to echo. Air Con not great. Breakfast – very small dining room and not enough tables resulting in long delays at breakfast. Mini Bar expensive (but what you would expect!)
I would return but maybe ask for a room at the back away from the noise. Location Location Location was great...

As many have said, the location of the hotel is fantastic. It's convenient to everything. Though the hotel is located in a lively area, we had no problems with noise.

Our only issue was with the room. We are a family of four and were given a room on the fourth floor (one of these notorious rooms with the sloped ceiling). After each of us smacked our heads a few times, we decided we needed to move. There was no other room available the first night, but they did move us with no problems the next day.

Breakfast was a good deal at around 8 Euros.

The biggest stand out was the service. The desk people were extremely nice and very accomodating. We will definitely stay here if we return to Madrid.