The Best Budget Hotels in Madrid
As far as European cities go, Madrid is undeniably cheap. Beers cost about €2, a metro ride will run you €1.50, and a solid soup-to-nuts dinner will set you back just €30-ish per person. So, it's no surprise that there are plenty of bargains to be found in the hotel sector. From designer hostels to homey posadas to budget hotels, these are our top picks for economical accommodations in the Spanish capital. These are the cheapest hotels in Madrid.
Mayerling Hotel
Why it made the list
Inviting, central, and (under-€100-a-night) affordable, Hotel Mayerling offers one of the city's best values in accommodations. Though you won't be in the lap of luxury here, the modern, well-appointed rooms are perfectly comfortable for travelers who plan on spending most of their time out and about. The 24-hour snack bar, well-priced breakfasts, and faultless soundproofing make this hotel one of our top picks in the budget category.
Hotel Abalú
Why it made the list
Laid-back travelers looking to get immersed in Madrid’s alternative Malasaña-neighborhood scene can’t go wrong by booking at Abalú. It’s a funky hotel in a funky district, and rooms offer great value, particularly in the higher-end categories. Though the décor may be over the top for some, it mirrors the hotel’s youthful, lighthearted atmosphere.
Sleep’n Atocha
Why it made the list
Sleep’n Atocha, located across from the eponymous train station, is chic but not too fancy, young but not too rowdy, and affordable but not too bare-bones. Families, solo travelers, and couples will all feel at home at this value hotel—though you won’t likely be spending much time inside with so many of Madrid’s top attractions at your fingertips.
The Hat
Why it made the list
The Hat epitomizes the fast-growing category of "designer hostels:" affordable properties geared toward the millennial set that boast sleek multi-person rooms, bumping weekend events, and unexpectedly generous breakfasts. Though you can find cheaper beds in the city, The Hat remains a steal considering its location—steps from the Plaza Mayor—and chic rooftop bar, which attracts a regular local crowd on the weekends. Note to female travelers: "Chicas"-only dormitories are available.
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