Hi -- just got back from Madrid (broke my heart to have to leave!), and stayed 5 nights at the Hotel Plaza Mayor (c/Atocha 2). This hotel is very pleasant and quite reasonably priced (I paid 48 euros/night for a single) especially given this prime location just one block from the Plaza Mayor in one direction and one block from the Puerta del Sol in another. I had asked for a room with a bathtub rather than just a shower, so they gave me room # 301, which I suspect might sometimes go as a double rather than a single, as it had a double bed. The room was small, which was not unexpected, but immaculately clean. The bathroom was done entirely in marble and had a good sized tub with a shower of course. The staff was always pleasant and while breakfast was not included, the bar on the main level was convenient and afforable for coffee, rolls and juice (about 3-4 euros depending on what you ordered). There is an elevator, direct phone access in the room and television. While I didn't use it, there was also a "reading" area for guests which could be used to study or work, since there is no desk in the room. Also there is no clock in the room (although wake-up calls were available from the front desk) so if you need to know what time it is in the middle of the night, bring a small travel clock to put on the night stand. The only thing I found odd is that they charge extra (a little more than 1 euro per night) to use the safe in the room. I would definately stay here again, and recommend it highly. And for those who had been asking before, there is no longer any construction going on in the Plaza Santa Cruz right in front of the hotel. By the way, this site was very helpful to me in planning my trip. Thanks to all the other posters.