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Best Places to Stay in Madrid by Budget

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If you’re wondering where to stay in Madrid, these are the best places to stay in Madrid broken down by budget. Discover the best neighborhood to stay in Madrid where you’ll be close to all of the top-rated tourist attractions. 

Best Places to Stay in Madrid by Budget

Madrid is a lively city in the center of Spain. It’s Spain’s bustling capital and it is known for precious artwork, historical significance, and fun cultural experiences.

view from Circulo De Bellas Artes

The top tourist attractions in Madrid Spain include art museums. Madrid is most known for its ‘Golden Triangle of Art’ which includes the Reina Sofi, the Prado, and the Thyssen-Bornemisza Museums. Less formal art experiences in Madrid include the Circulo De Bellas Artes –a rooftop art exhibition space and one of the best places to go out in Madrid. 

Plaza de Mayor

The best places to visit in Madrid for history lovers include the Royal Palace of Madrid, Plaza Mayor, and the Temple de Debod (an Egyptian temple from 2BC found in the center of Europe). 

Still not impressed? You can also eat your way through Madrid. Enjoying artisanal markets like Mercado de San Miguel. The best places to eat tapas in Madrid include Bodega de la Ardosa and La Tape. Afterward, enjoy a siesta. Below, you’ll find some of the cool places to stay in Madrid that allow you to do all that. 

woman happily sits with churros in Madrid

These places to stay in Madrid are perfect for tourists looking to explore the city. You know the best places to go in Madrid, and now discover convenient accommodations. 

Best Places to Stay in Madrid 

Madrid has a temperate year-round climate with over 300 days of sun annually which makes it perfect for walking. It’s also well connected by public transportation. Don’t hesitate to use the subway, as it’s fast and reliable. 

If you stay at any of these accommodations, you’ll be within walking distance to popular attractions, restaurants, shopping, and entertainment. We’ll be sure to point out the highlights along the way. 

woman in madrid spain, exploring

Budget Hotels in Madrid

Let’s discuss some of the best budget accommodations in Madrid city center. This is the best area to stay in Madrid for first-timers. Staying in Madrid’s city center neighborhood will allow you to walk to many tourist attractions. You’ll also be within reach of Madrid nightlife areas. 

Accommodation Free BreakfastRooftopOutdoor PoolGymAesthetic
Artistic B&BBohemian
B&B Hotel Puerta del SolMinimalist Modern
Central Palace HotelClassic, Romantic
Hotel Indigo Gran ViaScandinavian Modern

Highlights include the San Miguel Basilica, San Miguel Market, and Plaza Mayor. Although, there are many more. Read on to discover some of the best hotels in Madrid that you can stay at for under $100 per night. They are the best places to stay in Madrid on a budget. 

Artistic Bed and Breakfast 

The Artistic Bed and Breakfast hotel in Madrid Spain is top-rated among guests. You can find it in (arguably) the best hotel location in Madrid. Stay here, and you’ll be able to walk to the Reina Sofia Museum in under 15 minutes. Walk to the Prado Museum or Plaza Mayor in less than 10 minutes. 

Have a unique experience at the Artistic B&B.

This is one of the cheapest places to stay in Madrid that provides guests cozy rooms, private bathrooms, and complimentary breakfast. The decor features eclectic Mediterranean elements that provide a stylish, yet unpretentious vibe. Each room has unique artistic elements like handmade mosaics, tapestries, and paintings. 

It’s a funky hotel in Madrid Spain, perfect for students, romantics, and creatives. 

B&B Hotel Madrid Centro Puerta del Sol 

B&B Hotel Puerta del Sol is one of the best Madrid hotels near Plaza Mayor. Puerta del Sol means ‘Sun Gate,’ and it’s one of the busiest squares in the city. This is an important historic site in Madrid, in the 15th Century, it was one of the gates of a city wall.

Hotel B&B Puerta del Sol

This is the best location to stay in Madrid! You’ll be steps away from restaurants, wine bars, and shops. It’s the best place to stay in Madrid for nightlife. Be sure to visit nearby Círculo de Bellas Artes and Oscar’s Terrace. 

Hotel B&B Puerta del Sol

Find your perfect room at the B&B Hotel Madrid.

B&B Puerta del Sol is one of the recommended 3-star hotels in Madrid. You can expect to find modern rooms with minimalist design features and clean white linens. This hotel also features a stylish outdoor terrace with a restaurant and bar on site. It’s one of the best cheap hotels in Madrid city centre. 

Central Palace Madrid 

The Central Palace is one of the most romantic hotels in Madrid that won’t break the bank. It’s located in one of the best areas to stay in Madrid — right across from the Royal Palace of Madrid. 

The Central Palace Hotel features antique furniture, spacious rooms, and all the creature comforts you may need while in Madrid. Picture crystal chandeliers, hardwood floors, and upholstered armchairs. This is one of the best boutique hotels in Madrid for couples.

See more photos of the Central Palace Hotel.

Breakfast is included in the price of your stay! Head over to Café de Oriente for fresh pastries, orange juice, and coffee. Breakfast is served every morning between 9 AM and 12 PM. 

The Central Palace Madrid is one of the top cheap places to stay in Madrid. 

Hotel Indigo Madrid 

The Hotel Indigo near Gran Via is one of the recommended hotels in Madrid for young adults seeking hip accommodations at a reasonable price. If you’re looking for Madrid lodging in city center, this spot is at the heart of it all.

Hotel Indigo features a seasonal outdoor pool and sunset terrace. It’s one of the cheapest Madrid hotels with outdoor pool amenities in the city center. 

Check rates at the Hotel Indigo Gran Via.

Rooms at Hotel Indigo are designed to soak up natural light. They offer innovative workspace solutions and spa-like bathrooms with rain showers. Design elements of the hotel are inspired by the region. You’re getting a lot of bang for your buck here.

Consider this the best place to stay in Madrid Spain on a budget. 

Mid-Range Hotels in Madrid

These are the best hotels in Madrid Spain that cost between $100-150 per night. The mid-range price range includes hotels found in the best neighborhoods in Madrid. You can expect to find accommodations in city centre Madrid. 

Accommodation Free BreakfastRooftopSpaGymOther
ICON Wipton
Only YOUGluten Free Bakery
NH Collection Suecia
Hyatt Centric Gran Via

Spend just a little more, and you’ll enjoy a wide range of awesome amenities. These are the best places to stay in Madrid for families, couples, or solo travelers on a mid-range budget. 

ICON Wipton

The ICON Wipton is a fantastic accommodation in Madrid. Found in the best location in Madrid – a 5-minute walk from El Retiro Park, a 5-minute walk from the Golden Triangle of Art, and only 10 minutes walking from Gran Via. 

Guests rave that the ICON Wipton is the best place to stay in Madrid on a mid-range budget. It’s a 4-star hotel with stylish decor and some luxury touches. Enjoy getting ready with ICON’s magnifying makeup mirror. Rooms include robes and slippers, so you can cozy up anytime.

Enjoy a relaxing stay at ICON Wipton.

Consider dining at the ICON Wipton’s Captain All Access Club. It’s open for breakfast, lunch, and dinner daily. Guests enjoy a glass of wine on the house! Be prepared for a true gastronomic experience. 

The ICON Wipton is one of the cheap boutique hotels in Madrid that doesn’t compromise on ambiance. The hotel was built in an exquisitely renovated early 20th Century building, avant-garde décor at every turn. This is memorable lodging in Madrid. 

Only YOU Boutique Hotel

The Only YOU Boutique Hotel is the best place to stay in Madrid as a tourist. That’s because you’ll be staying in a historic building – a 19th Century palace. Only YOU was designed by Lázaro Rosa-Violán, a world-renowned interior designer. This is one of the most sophisticated cheap hotels in Madrid. 

Only YOU has excellent amenities. Guests can enjoy complimentary breakfast any time of day. There’s also a 24-hour gym and refined meeting facilities. An unexpected amenity is Only YOU’s Thai Spa. Choose from a selection of eastern-inspired massages, body treatments, and rituals

Experience the Only YOU Madrid. 

This hotel offers an on-site restaurant, bar, lounge, and gluten-free bakery. Find healthy options like cold-pressed juices, or discover innovative dishes and handcraft cocktails. 

Usually, Madrid hotel deals don’t offer rooms with these kinds of luxuries. Only YOU rooms provide guests with spa-like rain showers. Also, robes and slippers.

With perks like these, you won’t be surprised to find that Only YOU is the best place to stay. Madrid’s attractions will all be within reach of Only YOU. You’ll be minutes walking from the San Anton Market and Gran Via. Shopping and nightlife aren’t far either. This is the best part of Madrid to stay in!

Hotel NH Collection Madrid Suecia

The NH Collection offers some of the best hotels to stay in Madrid, and the Suecia location accommodation is our top pick. This is one of the best locations to stay in Madrid – right next to the Circulo de Bellas Artes. 

This is the historic and cultural center of Madrid. Nearby, you’ll find Gran Via and endless opportunities for shopping and dining. The hotel itself is located within a historic building that was once owned by the Spanish Royal Family. Since then, it has hosted famous guests like Ernest Hemingway and Che Guevara. 

See more photos of the NH Collection Hotel in Suecia.

While this is one of the historic hotels in Madrid city centre, don’t expect to find anything drab. The hotel was renovated in 2016 to cater to contemporary design and comfort. 

Like all the luxury hotels in Madrid, the NH Collection Suecia offers a stunning 360-degree panoramic rooftop terrace. Enjoy an expertly crafted cocktail while you soak in the surrounding rooftops, and even spot mountains near the horizon. This is one of the top hotels Madrid has to offer! 

Hyatt Centric Gran Via 

Hyatt Centric at Gran Via is an excellent boutique hotel. Madrid’s top tourist attractions are all nearby, especially Gran Via’s lively nightlife scene. 

Splurge for a room that overlooks Gran Via. Although, the best views will be at the hotel’s premier rooftop. – El Jardín de Diana offers panoramic city views and a fun atmosphere. 

Book a room at Hyatt Centric Gran Via.

Each room at the Hyatt Centric has a 55-inch flat-screen TV and a functional workspace. Guest can work out any time of day at the Hyatt Centric’s 24-hour state-of-the-art fitness center. Sleek and modern design, functional amenities, and excellent service make this the best hotel in Madrid for travelers on business. 

Affordable Luxury Hotels in Madrid

This next section includes the best hotels to stay in Madrid Spain for around $200 per night. We call them ‘affordable luxury,’ but you may think of them as cheap luxury hotels in Madrid. If you’re looking for spa hotels in Madrid or Madrid hotels with pool amenities… read on!

Accommodation RooftopWelcome CocktailHistoric PalaceSpaOther
Hotel Urban✓ Michelin Star rated restaurant
✓ Welcome truffles
Hotel Palacio del Retiro✓ Natura Bisse toiletries
CoolRooms Atocha✓ Outdoor Pool
✓ Garden

If you’re still wondering where to stay in Madrid for the first time, we’ll answer that too. You’ll find these accommodations in the best area to stay in Madrid for nightlife, tourist attractions, dining, and shopping. 

Hotel Urban 

Located in the heart of Spain’s glorious capital (one of the best areas to stay in Madrid), the Hotel Urban offers an Avante-Garde experience unlike any other.

Hotel Urban is located within the Golden Triangle of Art. It’s near the Puerta del Sol and Gran Via. It’s one of the best places to stay in Madrid for tourists who love walking. 

Guests are welcomed upon arrival with a refreshing cocktail. The welcome continues as you arrive at your room to discover chocolate truffles. Soft drinks and mineral water in the fridge is free to enjoy! Cheap hotels in Madrid Spain usually don’t include amazing perks like these! 

Find out more about Hotel Urban.

Hotel Urban also offers a unique gastronomic experience for guests. The hotel’s Cebo restaurant has been awarded a Michelin Star. It features a progressive menu highlighting Mediterranean flavors, and it’s one of the best places to eat in Madrid.

Finally, guests adore visiting the Urban Terrace. It’s the perfect spot to enjoy al fresco dining or a casual cocktail. Plus, you’ll enjoy fantastic views of Madrid from above.

Consider Hotel Urban the best hotel to stay in Madrid for affordable luxury travelers.  

Hotel Palacio Del Retiro

Hotel Palacio Del Retiro is one of the best places to stay in Madrid Spain. It’s an exclusive accommodation built within a historic palatial home. It’s considered one of the best hotels in Madrid because the building is recognized and protected as a National Historic Monument. It’s also one of the small luxury hotels Madrid has to offer, as there are only 50 guestrooms. 

You’ll find it within one of the best neighborhoods to stay in Madrid – nestled within the Golden Triangle of Art, across the street from El Retiro Park. 

Another reason we consider this one of the best hotels in Madrid Spain is because of the full-service spa. Guests of Hotel Palacio Del Retiro can enjoy massages, facials, makeup services, hair and body treatments. Appointments are required. 

See more pics of Hotel Palacio del Retiro. 

These are some of the most impressive hotel rooms in Madrid. Rooms overlook the park and feature luxury toiletries from Natura Bisse. While keeping with the traditional style elements of 1908, rooms feature beautifully restored wooden floors and crown moldings, as well as modern amenities you’d expect. Absolutely, Hotel Palacio Del Retiro is one of the best spots in Madrid! 

CoolRooms Palacio de Atocha

CoolRooms Palacio de Atocha is one of the top hotels in Madrid. It’s set within an exquisitely remodeled 19th-century palace. It’s located in the heart of Madrid, a few minutes’ walk from Prado, Plaza Mayor, and Gran Via. Time Out Magazine called it, ‘the coolest neighborhood in the world.”

If you stay in one of these cool rooms, you won’t be disappointed with your Madrid Hotel Booking. This accommodation boasts surprisingly large rooms with exceptional natural lighting

Reserve your stay at CoolRooms Atocha.

This is also a recommended hotel in Madrid because of the fantastic outdoor pool and garden space. Enjoy poolside cocktails in a secret urban oasis. It’s the perfect place for relaxation amid the hustle and bustle of Madrid. Enjoy Madrid hotel luxury at an unbeatable price with CoolRooms at Palacio de Atocha. 

Ultimate Luxury Hotels in Madrid

We’re throwing budget out the window with this next set of epic accommodations. You can expect to spend more than $300 per night for these ultimate luxury hotels in Madrid Spain. 

Accommodation RooftopHistoric PalaceSpaArt CollectionOther
Hotel Gran Melia Palacio Los Duques✓ Outdoor Jacuzzi
Four Seasons✓ Indoor Pool
Mandarin Oriental Ritz✓ Commitment to Sustainability
✓ Celebrity pick

You’ll find them in the best areas of Madrid, and you can expect top-notch amenities with unparalleled customer service. The following Madrid hotels are sure to impress even the most pretentious travelers (you know who you are 😉). 

Hotel Gran Melia Palacio Los Duques

Hotel Gran Melia Palacio Los Duques is one of the historic hotels Madrid has to offer. It’s one of the best luxury hotels in Madrid that’s found within a 19th Century palace. It’s also nestled next to the Royal Palace of Madrid – the best part of Madrid to stay. 

One of the premier amenities includes a charming garden sanctuary. Or, relax and unwind at the hotel spa. Specifically, the hotel’s Thai Wellness Room offers a rejuvenating experience with healing professionals. Featuring Chinese antiques, Tibetan art, and soothing chrysanthemum tea. You can indulge in a sauna, Turkish bath, or a selection of massage services. 

Experience unparalleled luxury at Hotel Gran Melia Palacio Los Duques. 

You’ll enjoy privileged views overlooking the Royal Palace and Almudena Cathedral. There’s also a jacuzzi on the property’s stunning rooftop terrace. Not to mention, there are 3 restaurants. 

Room style is inspired by Las Meninas, a Velázquez masterpiece. Expect sharp, clean lines and fine textiles. It’s the modern elegance you’d expect from five-star hotels in Madrid. 

Four Seasons  

The Four Seasons Hotel is located in one of the best neighborhoods in Madrid Spain. It’s a short walk from all of the key tourist attractions including the Botanical Garden, the Golden Triangle of Art, and much more!

The Four Seasons is the best hotel in Madrid Spain for ultimate luxury travelers. The spectacular lobby might as well be a museum since it contains over 3,000 unique artifacts. You’ll also find contemporary art pieces throughout the hotel.

This is also one of the best 5-star hotels in Madrid because it features a fabulous 7th-floor rooftop terrace – Dani Restaurant lives here. Dani is home to celebrity chef Dani Garcia, and he cooks up traditional American favorites with an air of sophistication. 

Discover the Four Seasons Madrid.

Also, the Four Seasons boasts the finest luxury spa Madrid has to offer. It’s a 4 story retreat with several treatment rooms and a couples suite. Enjoy advanced skincare offers and therapeutic massage services. You’ll also find a state-of-the-art fitness center, a huge indoor pool, and a boutique salon for hair & nail services. Consider this the best spa in Madrid!

Did you know the Four Seasons provides guests with twice-daily housekeeping? Yeah!

Mandarin Oriental Ritz 

The Mandarin Oriental Ritz is probably the most expensive hotel in Madrid. That’s because it’s one of the coolest hotels Madrid has to offer. This hotel has been an important part of Madrid’s history. 

Not only is it within a Belle Époque palace, but it has also catered to celebrities, dignitaries, and royals for over 100 years! Find out which celebrity guests have stayed here.

The hotel has been masterfully restored with no expense spared. It will transport you back in time with glamorous touches around every corner. 

Find out why celebrities love the Mandarin Oriental Ritz. 

This Madrid Spain Hotel is unlike any other. The signature spa – Beauty Concept – provides guests with dedicated treatment rooms, a lavish indoor swimming pool, and relaxing steam rooms. Plus, Technogym equipped facilities and a vitality pool. It’s one of the best places in Madrid to relax and unwind. 

Also, the property has 5 fabulous restaurants, including a Champagne bar. They also display artistic masterpieces from their impressive art collection. 

Rooms feature Dolomite stone paneling, oak floors, and contemporary design features.

Although there’s another aspect of the Mandarin Oriental that guests absolutely rave about, and it’s their commitment to sustainability. MO vowed to be plastic-free by 2021.

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