Right behind the Main Square and City Hall, right in the Zona de Vinos (area full of restaurants and bars for "tapas"). This is a classical hotel (not new but reformed some years ago). A liitle bit expensive for the instalations it has but great location.
No free parking around (the hotel is in a pedestrian street), although there are 2 parkings next (but you have to pay).
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Address: Del Peso 4, Valladolid, Castile-Leon, 47001, Spain