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.