If you're not opposed to shelling out a few extra euros, then check into the three-star Hotel Regente. It's worth it!

Hotel San Lorenzo, perched just off Gran Via, impresses to the nines with its country style and bargain rates.

Though a little bit expensive for Madrid, High Tech Petit Palace Ducal has a great location and unique design that make it a splurgeworthy pick.

Hostal Puerta del Sol is a gay-friendly hostal with a great attitude and an unbeatable perch just above Sol.

Situated along Calle Cruz, two minutes from the Puerta del Sol, the Marlasca is located in "hostal central." But what makes the Marlasca different is the professional service—there's always somebody at the reception desk...

La Fontana undercuts its two-star bracket contemporaries with friendly service and design savvy.

Owners Gabriel, Marcelo, and Ramon have put a lot of time, hard work, and fresh paint into their endeavor.

The three-star Hotel Ingles is a classic choice that has managed to keep its rates low, while new matresses and fresh paint keep aging rooms pleasant.

Hostal Alaska is widely recommended. In addition to being one of the best bargains in town, it's also an inarguably good place for history buffs.

The Tijcal II isn't exactly chic, but it is cheerful. Everything is brand new, from the modern wooden furniture to the well-equipped baths.

Located in Salamanca north of the center of Madrid on the most fashionable street in the capital is the 17-room, family-run Hostal Salamanca.

Located along the Gran Via, the Hostal Hispano-Argentino provides standard rooms with amenities galore for a fair price.

The Nuria's location, on the bustling Calle de Funecarral, is fantastico: it's minutes from Gran Via and surrounded by the chic stores and cafes that make Chueca the 'it' neighborhood.

While the hotel's exterior won't wow you, the modern, comfortable rooms and super-convenient location are sure to make a positive impression.

An historic establishment that can boast Ernest Hemingway as a former guest, the Tryp Gran Vía is a safe, moderately-priced bet.

We like Hostal Asunción for its non-touristy location, plus rates are reasonable for services rendered, and include free Wi-Fi.

Providing 46 rooms along the central Calle Principe, the Villar is noteworthy for its rock-bottom prices and nifty wrought-iron elevator.

The mammoth Hotel Asturias, located one block east of Puerta del Sol, offers a whopping 175 rooms, almost all with private balconies overlooking the street.

For travelers with wide eyes and a slim budget, Hostal Residencia Helena is a good choice for its high-rise perch.

Renovated rooms have their own personal computer with Internet access. Plus, they are f-r-e-s-h, with new doors, new beds, big TVs, AC...