Well the best is the situation of this hotel, in the Barrio Salamanca, a few minutes from Alcala door and the Retiro.
Is a big hotel, specialised in Conventions.. well actually I went there twice because of that...
Rooms were not as good as other 4 stars hotels I had been, but I guess is cheap for its location
Las time i went I used www.bancotel.com so the double room per night was 50 euros, some agencies in Spain for big compnies make great discounts.. and sometimes you can get it for cheaper...