I was diasppointed with my hotel choice, but did find two great alternatives for my next trip.
Calle Las Huertas is a great neighorhood to stay in, and explore. I really liked the area around the ME Hotel at Plaza Santa Ana 14 as well as the NH Hotel’s Palacio de Tepa at Calle San Sebastian 2. The Me Hotel was the former Grand Hotel Reina Victoria which sits on a very attractive square. It is beautifully decorated and has a great, hip rooftop bar.
In addition to those, I found other great hotels receiving good reviews and press including:
NH Collection Madrid Suecia (formerly The Innside Madrid Suecia) is a contemporary hotel located in the refurbished and historic Hotel Suecia, home to Ernest Hemingway in Madrid.
U Hostels is a great property including private rooms, Room Mate Hotels has four contemporary properties in Madrid and the sleek Only You Boutique Hotel & Lounge has been featured in Wallpaper* Magazine for its great design. Posada del Leon de Oro has also received good reviews.
The Principal is an elegant, luxury hotel in a renovated building from 1917. The sleek update earned it a spot on Wallpaper* Magazine’s ‘Best Urban Hotels’ list.