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

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.

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

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.

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

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

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

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.

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

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

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 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 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.

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.

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

"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."

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