My Favorite Cheap Hotels in Madrid

SDMadrid › Cheap Hotels
Updated: March 15, 2024
By Santorini Dave

See Also

The Best Budget Hotels in Madrid

1. Mola Hostel – Budget

Funky hostel located a 3-minute walk (300m) from Puerta del Sol, a 7-minute walk (550m) from San Miguel Market, and within a short walk of many restaurants, shops, and theaters. The property offers modern dorm-style rooms with shared bathrooms and private rooms with ensuite bathrooms. Also daily buffet breakfast (for a fee), a spacious lounge area, organized tours and activities, and 24-hour reception.

2. Hostal Triana – Budget

No-frills hotel situated among a variety of restaurants and shops, and located a 3-minute walk (300m) to the Puerta del Sol and a 9-minute walk (800m) to the Círculo de Bellas Artes. All rooms have private bathrooms, some rooms have air conditioning and balconies, and the property has a 24-hour front desk and several sitting areas.

3. Hostal Adriano – Budget

Good cheap hotel located a 3-minute walk (270m) to the Puerta del Sol, a 6-minute walk (450m) to Plaza Mayor, and within blocks of a variety of restaurants and shops. All rooms have private bathrooms, safes, and refrigerators. The front desk is staffed around the clock.

4. Urban Sea Hotel Atocha 113 – Budget

Affordable and modern boutique hotel featuring a rooftop terrace, business center, free tea and coffee in the lobby, and efficient guest rooms with minimalist white decor. Nestled among numerous restaurants, the hotel is located an 8-minute walk (650m) from Puerta de Atocha Station, a 4-minute walk (300m) from Real Jardín Botánico, and an 8-minute walk (600m) from the Museo Nacional del Prado.

5. Hostal Madrid – Budget

Budget hotel with rooms for up to four guests, all with private bathrooms and air conditioning. Surrounded by restaurants and shops, the hotel is located a 3-minute walk (210m) to the Puerta del Sol, a 3-minute walk (210m) to Plaza Mayor, and a 5-minute walk (400m) to San Miguel Market.

6. Hostal Central Palace – Moderate

Just steps from the Royal Palace of Madrid (2-minute walk, 200m) and Teatro Real (2-minute walk, 140m), this centrally located hotel is within walking distance of many restaurants and the Opera subway station (3-minute walk, 230m). Good value property featuring a 24-hour front desk and breakfast for a fee, and every room has a modern, private bathroom, wood floors, and vintage furnishings.

7. Muralto Princesa – Moderate

Modern apartments with kitchenettes, air conditioning, and a variety of bedding options that can accommodate up to five guests. In addition to breakfast for a fee, the property features on-site parking (fee applies) and a 24-hour front desk, and its location is four blocks from West Park (4-minute walk, 350m) and 800m to the Temple of Debod (10-minute walk) and Plaza de Espana (9-minute walk).

8. Room Mate Alicia – Moderate

Stylish hotel located near a variety of theaters, restaurants, and shops, and a 9-minute walk (800m) from the Museo Nacional del Prado. All rooms have colorful designer decor, private bathrooms, minibars, and desks; some rooms have balconies. Hotel amenities include a breakfast buffet (fee applies).

9. 60 Balconies Art – Moderate

Contemporary apartments with full kitchens, private balconies, and eclectic artwork, located a 3-minute walk (220m) from the Museo Nacional Centro de Arte Reina Sofía, an 8-minute walk (500m) from Retiro Park, and a 5-minute walk (350m) from Puerta de Atocha Station. Accommodation options range from studio apartments to three-bedroom apartments, and all units have access to laundry facilities.

About Santorini Dave

Santorini Dave Author Bio. Santorini Dave was started in 2011 by a guy who loved Greece, travel, and great hotels. We're now a small team of writers and researchers on a mission to deliver the most helpful travel content on the internet. We specialize in Santorini, Mykonos, Athens, and Greece and recommend the best hotels, best neighborhoods, and best family hotels in top destinations around the world. We also make hotel maps and travel videos. I can be contacted at