We had a nice stay at this hostel. The best part is the location - you are just off the Gran Via and within walking distance of many of the key places to visit.The hostel was clean and well equipped, although the toilet cubicules are a tad small.
The only majour downside was our room was very hot in July and we had trouble sleeping. I would revisit this hostel but perhaps not in the summer months. Overall still great for location and price.