I've never stayed in ANY hotel in Madrid so I cannot personally recommend one but if you look on the MadridMan\'s Madrid Hotels
page I have the vast majority of Madrid Hotels which have websites arranged according to the number of stars. Browse a few of those and you'll get an idea. But off the top of my head I'd think a double-room, 3-star hotel in "Old Madrid" would cost around 80-150 Euros/night.
For conversion of the above to US Dollars go to http://www.xe.com/ucc/
Good luck! Saludos, MadridMan
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