I would not enjoy my vacation staying at the Carlton alone! It is even quite a walk to Atocha.It's in a working class neighborhood of no particular interest to me. For the money you were willing to spend you could have chose a number of beautiful hotels across from the Prado museum and felt absolutely safe and central yet within walking distance to Atocha!

hi crisco do you have any suggestions about where those would be? I thought this hotel was close to atocha...any suggestions?

I would stay at the NH Paseo del Prado ( my favorite when it was Canarias) or Radisson Blu (new) and a little less in price is the Hotel Lope de Vega-gets good reviews.These are all near the Prado ,safe and fun area- I've walked alone at 1AM-always people around.These are near the Prado museum and an easy walk to Atocha!

I have stayed a number of times at the Hotel Plaza Mayor. It is in an excellent neighborhood and I've never paid more than 75 euros per night for a single. Check it out online.

Crisco : I remember that place when it was Canarias .. Really nice place to sit outside . I was slumming it at the Hostal Cervantes behind the hotel at €35 a night ! That place was amazing for gin and tonic .. They brought me a glass the size of a small bowl and she started pouring and didn't stop until I panicked and said " Basta , gracias ! " That drink lasted me nearly 2 hours and they only charged me €7.50 ! ( By the way the Hostal Cervantes is clean , cheap , friendly .. A bit like a university Halls of Residence but most rooms have private bathrooms . I was very comfortable there ... No AC as I remember so that's a downside . Quiet area of town but just 10 minutes walk to Sol .

Hotel Meninas This is where my friend stayed last month when she was alone in Madrid. She had nothing but good things to say about the hotel, the location and the staff. I think it was a perfect choice for a woman traveling alone.

Hi Kells

If you haven't already booked Carlton. This hotel seems to be in the area you want:
http://es.melia.com/hoteles/espana/madrid/tryp-madrid-atocha-hotel/home.htm

But it only just scrapes into your budget in October.

If you take a look at google maps you can find a large selection of hotels based on area:
http://maps.google.es/maps?q=hoteles&hl=es&ll=40.416796,-3.692479&spn=0.008806,0.019033&sll=40.416796,-3.692479&sspn=0.008806,0.019033&t=m&radius=0.6&hq=hoteles&z=16

I hope that helps.

It'd be easier to find something in your budget if you let us know when you're travelling.

I just came back from Spain where I spent three months of holidays. My journey started in Madrid and it was an unforgettable stay! I normally travel as backpacker and I was thinking of staying not more than two weeks in the capital. I didn’t want to spend a lot of money on accommodation so I was looking for different possibilities to stay in Madrid: I found an accommodation service for young students that offer either sharing flat or host families. In my opinion, that is the perfect way to really discover the Madrid culture. Furthermore, this is not just an option for young students but also for older ones! My contact person was called Fran (the service is called Student Accommodation Madrid.com) - she took my age into account (I’m a young british….of 40 years of age ;)) and organized everything for me! It has been a very good experience indeed!