Hi, I see there are a lot of threads on places in the city so I hope it's o.k. for me to do a post unique to what I would look for. I love long walks in a city like Madrid, that is new to me. I would like to find a budget hotel with private bathroom in a downtown location of Madrid near the major tourist sites. One where if you book way out the price is at or under $100.00 per night including tax. It's o.k. if it's noisy. The main thing is that I would love to be near tourist sites and walking up to 30 minutes would not be an issue for me. Is there one you currently know of that is budget rate with a private bath that is a good deal? Second question is I think I read once that most tourist places and restaurants close during the month of August, is this correct? Thank you!

Hotel Plaza Mayor is my choice. It should be way under 100. I have got a tiny room for 45 [off season]. In Summer it will be more but with taxes not over 80.00. Nearby is Hostal la Macarena, not as nice but even closer to Plaza Mayor. Don't know if these hotels will cool the rooms properly, most hotels in Madrid are lacking in cooling, August will be tough and yes some good restaurants will be closed. Museums and Monastaries will be open year round.

Thank you, for your reply and very helpful information.

On my first two trips to Madrid I stayed at Hotel Plaza Mayor. It is right across from the Plaza and is reasonably priced. Lately I have been staying at Hostal Bruña. An individual room with bath starts at 35€. It would be more in the summer. I like this hotel because it is across the street from the Prado. It is a short walk to Atocha train station for trips to Toledo, Aranjuez etc. It is easy to get to the airport by train or using the Airport Bus.
The major museums are all nearby. It is between the Atoch and the Antón Martin Metro stations.

in my old days, the hostal la plata in Gran via was superb