Excellent location and good value for the price. Very walkable to the main attractions of the city, Sol, Plaza Mayor, Buen Retiro etc, and also close to many eateries. Getting to MAD airport on public transit was a breathe - some 8 minutes walk to Sol station and a train ride with a transfer. We had a private room, but other than the provided towels, basically no in-room amenities. It was a bit strange that two private rooms shared one common balcony, which seemingly meant that the occupants of the other room could have entered our room (?) but we may have missed something. While we appreciated the few outlets we had, it was on the top bunk and there wasn't a convenient way for the lower bunk sleeper to share the outlets. Rooms were clean, but the cleanliness of the common area (kitchen, bathrooms) I suppose is somewhat at the grace of fellow travelers. How the communal fridge was shared showed some respect from fellow travelers, though, which speaks well about the clientele. Staff explained everything to us upfront (e.g bag storage, although we didn't utilize it).
Again, for the location and the value for the price, I would stay again.