Being the most visited city in Spain, Madrid is not a cheap place to spend time and relax. But if you compare Spain to the rest of Europe, it is still relatively affordable. There is a wide range of accommodation to choose from in Madrid, ranging from budget 3-star guesthouses to plush, high-end hotels.
If you don’t want to miss out on all the latest happenings in town, your best bet would be to stay in the historical center of Madrid. There is no shortage of cheap hotels near Gran Via, Puerta del Sol and Plaza Mayor (Madrid’s main squares). This area is where free Madrid walking tours start from, so expect to find interesting sites around here.
Hotels in Spain are generally reasonably-priced but standard is at times, compromised. Madrid, being the capital city, is also one of the more expensive tourist destinations in Spain, so expect to pay more here for hotels than you would in other parts of Spain.
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