Novotel Madrid Puente de la Paz

Anyone have any experience with this hotel and it's location (good or bad neighbourhood?) in Madrid.
We're driving in from Barcelona for 3 nights and are unsure as to whether to stay in the city centre and pay to store the rental car or stay in this suburb with free parking and closeby metro.

I also have been trying to find out about this hotel. It seems like a good family choice (i.e. kids stay and eat free). NOVOTEL is a reputable chain, but I haven't stayed in this one. My concern is that is seems like a bit of a hike to the metro.