The hotel is great and an excellent option for Madrid. Everything is 10 mins away (tops)! The street leads to the museums on one side, and Plaza Mayor on the other side. After midnight, there's a pizza place nearby open 24/7, just in case you're going out.
The hotel has a nightclub, but it closes at 1pm, which is great because of the noise. However the rooms have soundproof so well done, that you sleep through your alarm clock - true story. The rooms are very well equipped: closet, hairdryer, minibar, drawers, food,... everything! If I could I would steal the pillows, mattress and duvet. Unfortunately, they don't fit in my bag.