The hotel is fine, just as all other Holiday Inn's, so in a way a little characterless but clean and with helpful staff. Staff are helpful with directions to metro and restaraunts shops etc.
On a dual carriageway so not a great outlook, on the edge of an industrial estate that you walk through to the metro station - La Granja.
It took an hour including the walk to the metro to get to the centre of Madrid so not good if you want to visit the centre as a main reason for staying.
There is a buffalo grill over the road which was fine, there are other restaurants but they are a bit of a walk away or a taxi ride.
The breakfast was ok, quite average nothing outstanding, they tidy up very promptly so you could get caught out by going down just before it closes.
Prior to this we were in a hotel chain ( Petit Palace) in the centre of Madrid that had free internet, Holiday Inn's should do this or at least have a cheap daily rate not an expensive hourly rate.

6th - 10th March sight-seeing trip in Madrid with my father. Stayed at the hotel for all 4 nights, booked in advance through staff discount site of affiliate company I work for, so approx 50GBP a night, which I thought was a very good deal.

Positives:

A nice, newly built hotel, much like all Holiday Inn and Holiday Inn Express'. Big spacious bedrooms and bathrooms, well kept and well cleaned each day.
Free buffet breakfast in neat tidy dining room.
Free maps.
Vending machines in reception and Ice machine.
Safety deposit boxes in back room.

Avoid for the following reasons:

Terrible location. Approx 15 mins walk (some uphill) to Metro then approx 60 mins to central Madrid destinations.
The hotel is way way way out of the centre of Madrid and is no good as a tourist hotel and trust me, after one day you'll be fed up of the travel.
No restaurant in the hotel, only one is close by, Buffalo Grill.
Not a shop in the vacinity.
It is outside the central Metro line so you have to pay twice for each trip.
Bus is also extra as Metro tickets cannot be used.
5 day stay cost us approx 80 Euro in Metro fares (use it to pay more for a central hotel).
Breakfast is less than acceptable if you have stayed in other Holiday Inns.
Staff have very basic English, unable to help with anything due to this.
Incorrect info given out by staff, again due to lack on English, when we pushed for help.

Negatives:
Hotel charged my credit card twice and I have been unable to get them to refund so far. Had to escalate the complaint to Andrew Cosslett the Holiday Inn CEO to even get a reply from the hotel. At this time the money stolen from my credit card has not been refunded and it has been a nightmare trying to get it back.

For this reason and also the location, avoid as a tourist hotel as you'll maybe, like myself, come to regret staying there.

Avoid Avoid Avoid.

Stayed one night and was generally pleased. Location is at top of Calle Metallurgia, and not as shown on Hol Inn or Trip Advisor map. Buffallo Grill across road is acceptable and friendly. Drive into Madrid during rush hour was slow, but not too bad at all. Will stay again.

Great for business outside Madrid. Hotel is clean no frills and thrills but pleasant and helpful staff.