I too have always read good reviews about Hostal La Macarena next door to Madrid's Plaza Mayor. It's a beautiful building, too! They used to have a website but I don't think one exists anymore. From what I remember, it was VERY nice/traditional and recently renovated inside. CAN'T get any more central than that, either.

Saludos, MadridMan

Hi MadridMan,

their website is http://www.silserranos.com/ and it still works.

Saludos de Alemania

Excellent! Thanks, Madrid1986! I'll replace it on the Madrid Hostels & Hostales de Madrid pages of MadridMan.com.

Saludos, MadridMan

Ive stayed at the Hostal Lopez on many occasions in the past and have really enjoyed my stay there, quite lively street. However it seems a little pricey now, i may be out of touch a little.
Nice clean friendly place.