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The Best and Cheapest Hotels in Madrid 

The Best and Cheapest Hotels in Madrid 

Picture of Jessica Jones
Updated: 19 December 2017

Madrid is one of Europe’s most exciting cities and the ideal city break destination, but one part of planning your trip that can be a headache is finding great accommodation at a decent price. If you’re on a budget, check out our picks of some of the best cheap hotels to consider next time you’re in Madrid. 

La Posada del Dragón

Located right in the heart of La Latina, one of Madrid’s oldest neighbourhoods, La Posada del Dragón is a hotel steeped in history. It is named after the mythical dragon that used to guard the area, so legend has it, and inside, guests can see some of the original 12th-century city walls. Rooms are clean, bright and modern and start at just €44. This is a great location for all the major sights and is ideal for exploring the tapas bars of the famous Cava Baja.

Urban Sea Atocha

This modern hotel with a cool white colour palette is located near to Madrid’s Atocha railway station and the Paseo del Prado, home to Madrid’s Golden Triangle of art galleries: the Prado, the Reina Sofia and the Thyssen-Bornemisza. Rooms are simple and Scandi-inspired. The large roof terrace has great views over Madrid’s rooftops and is the ideal place to relax at the end of a day of sightseeing. Rooms start at around €56.

Hotel Mayerling

A converted textile warehouse, the Mayerling is a boutique hotel just 500 metres (1,640 feet) from the central Puerta del Sol and 450 metres (1,476 feet) from Plaza Mayor, Madrid’s main square. It’s a great central location that is within easy walking distance of all the major sights. The hotel has stylish double and triple rooms and provides a buffet breakfast every morning. You can relax at the end of the day on the roof terrace or in the central courtyard. Rooms start at around €54.

Room Mate Mario

This design hotel belongs to the Room Mate hotel chain, which aims to give each of its hotels its own personality. This one is Mario, a jazz musician with an elegant and calm demeanour, which perfectly sums up the hotel itself. The hotel is close to the Teatro Real opera house and Madrid’s Royal Palace, and within easy walking distance of all the major sights. The decor is cool and the rooms are light and colourful. Choose from singles, doubles and a junior suite. Rooms start at around €59.

Hostal Gala

In Spain, the word hostal means not hostel, but a reasonably priced hotel. Hostal Gala is located right in the centre of Madrid, just off the main shopping street, Gran Vía. Its has single, double and triple rooms as well as a range of family rooms that are great for families or groups of friends travelling together. Family rooms are named after world cities and include London (four beds), Bangkok (five beds) and Sydney (three beds and a bunk bed).

Hostal Abel Victoriano

This guesthouse is located in the cool neighbourhood of Malasaña, full of excellent shops, bars and restaurants. The rooms – single and double – are pretty no-frills, but are clean, modern and colourful and the staff are friendly. Prices start at around €49.

Praktik Metropol

This cool Scandinavian-inspired hotel is part of a small, Spanish boutique hotel chain and is a stylish accommodation choice right on Madrid’s Gran Vía. Choose from single or double rooms either facing the interior courtyard or out onto the Gran Vía. Breakfast is available and the rooftop terrace is a great place to unwind at the end of the day.