I just got back from Spain and I thought I'd put in another good word for the world famous Hostal Chelo . This was my 5th or 6th stay there over the past 8 years and I've never been disapointed with my choice. For those who are looking for inexpensive lodging option in Madrid, whilst benefiting from a superb central location Chelo should fit your needs. I've stayed in all kinds of lodging in Spain over the years from Albergues along the Camino de Santiago to upperend Hotels along the North Coast, and I find the cost-value relationship at Chelo to be at the top.

I understand Hostales/Pensiones may not appeal to all travels, those with deep pockets or those who visit Spain for the first time on their dream trip will likely choose a more traditional hotel, but for those who need a cheap clean room in a great location choose Chelo .

Saludos,
Shawn

Thanks for the review of Hostal Chelo Shawn! It's much appreciated and of no surprise to me. I've only stayed there once and felt the same as you.

Saludos, MadridMan

Have to agree with Shawn. I think we've stayed there a few more times ( pre lift !)and have never been disappointed.

It should be noted that Chueca is very good for Shoe and Handbag shopping !!

As an aside MadridMan, shame we couldn't meet up.
We ate at Vivares twice and went with Antonio to the bar/restaurant La Bardemcilla, owned by actor Javier Bardems family. Very reasonable cost wise and great ambience.