I have a friend coming from the USA and she is staying at the Hotel Mora. I checked out the rooms for her. It is clean and quiet even though the room I looked at was on Paseo del Prado, a very busy street. The Mora is near Huertas which has tons of bars and restaurants.

Hotel Europa is smack dab in the middle of Plaza del Sol, a wonderful area.

I don't see how you can go wrong with either of them. If you are traveling light, try a couple of nights at each place.

Buena suerte

Lee