Thanks JJP and zero262quick for all the helpful information!! I'm going to forward this information on to my friends and see what they think. The 3/20 deadline is a problem for our travel plans but maybe something will come up that will allow for low fares after March 20th. My girlfriend and I are already booked for 3/9 to 3/24, so we're trying to find a flight that will give all four of us the most overlapping time in Spain.

MM - I followed the link from your site to the Hotel Lopez site. It looks like a nice and affordable place to stay in Madrid!! The location sounds great too!

Thanks again you all for all of your help!