My fiancee and I stayed there on a long weekend in Madrid and loved this place. The room was a good size (not just the bed + 1' on all sides), the bed was comfy, and the bathroom had a full-sized tub (extremely rare in lower-priced hotels). Very inexpensive as well.
Two minor downsides - the doors are super-thin and sounds carry down the hallway very well. Our room overlooked an interior courtyard and there's a restaurant on the ground level that was a little noisy until around midnight.