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.

The Hostal Dominguez is a respite from the buzz of the Chueca's trendy bars and clubs.

There are dozens of family photos from across the decades lining the lobby's halls and walls. It will certainly make you feel right at home!

Walking into the lobby of Hostal La Plata, a quiet family-run pension on the Gran Vía, you are immersed in the wonderful world of Cervantes.

Gonzalo won't disappoint for location or facilities. Its low rates never fluctuate, even during high season.

Super cheap and located directly on Puerta del Sol, the Riesco provides a nice, air-conditioned stay near the heart of Madrid.

The Hostal Cruz-Sol has it all—rock-bottom prices, comfy rooms, and a cool and convenient location. It overlooks the Plaza de Santa Cruz and is just a minute from Puerta del Sol.

The Hostal Persal is an 80-room Madrid classic, where an appealing minimalist aesthetic sets the tone.

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

This cozy, tastefully decorated two-star is the perfect place for those who don't want to travel very far from their room to be near the action.

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

It's all the little details, from the star-spangled shower curtains to the super friendly staff, that make any day at the Acapulco a sunshiny one.

Located between Puerta de Sol and El Museo Prado, the Lisboa is certainly clean and comfortable, thanks to the friendly proprietor.