Rooms at the Hotel Europa boast beautiful furnishings, fresh fabrics, marble baths, and tons of amenities from sofas to satellite TVs.

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.

Hotel Santander is known for its grandeur and Old World reputation— Old World, in this case, means you can forget about Internet access and cable TV.

The 121-room Hotel Paris has an impressive art nouveau façade, fabulous views, and an incredibly convenient location directly on the Puerta del Sol.

"We want to be like a friend in the city who has the best apartment in the best part of town, and who can tell you where to go out at night."

The Hotel Plaza Mayor is worth the few extra euros for its bonus services, accountability, and warm welcome.

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.

The Hotel Casón del Tormes is a lovely three-star hotel, offering 63 spacious and attractive rooms.

Dos Castillas is dependable and reliable. While it's a good deal for the money, don't come here expecting luxury.

This centrally situated, reliable hotel is a dream come true for risk-averse travelers ... You can get shuttle service to and from the airport, and it's located in a popular shopping area, just off the pedestrian-only Preciados.

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

The Hotel Moderno wowed us with head-to-toe comforts and chic decor. This muy moderno venue overlooks the Puerta del Sol, winning mucho points for its central location.

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

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.

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

Sleek and chic Ateneo provides 38 impressive three-star rooms just north of Puerta del Sol.

In our opinion, the four-star Hotel Meninas is the most tasteful non-chain establishment in Madrid—UN representatives and Gay Pride visitors agree.

Posada del Peine manages to offer affordable rates to travelers while maintaining its four-star status.

Hostal el Catalán is to hostals what Levi's is to jeans—it's an established brand that has so passed the test of time that there's no questioning its consistency or value.

Colors Hostel is run by a vivacious Argentinean man and is comprised of 9 rooms. Four rooms have balconies that overlook Fuencarral, a trendy street strung with designer clothing shops leading all the way to Chueca.