Highly recommended. We used booking.com and got a double room for 89 euros / night. When we arrived, they didn't have what we had wanted, so we were given a triple instead, for the same price. It was a very large, clean room, overlooking Gran Via, but quiet. The beds are super-comfortable, with controls to adjust the height. The minibar has free drinks (no alcohol). It also has safe, iron and hairdryer. There was a rooftop jacuzzi included in the price, open until mid-September. Yes, it's small, and the water was cold, but the views over Madrid are priceless! In addition, the hotel has a hairdresser and spa. The spa has some great discounts. For example they do 2x1 on Wednesdays, or every day from 14.00 to 15.30 it costs 9 / person. No parking, but it has an agreement with a nearby parking (Tudescos), so you can park on the cheap. It is essential to ask the hotel to put their stamp on the parking ticket to get the discount.
So, I have to admit, I have nothing to say about the rooms, service, breakfast buffet, or prices. You can see all that info in some of the other fine reviews on this site. But, what I can guarantee, is that this hotel has one of the absolute BEST rooftop terraces in downtown Madrid. It's on the 10th floor (quite a feat in a "short" city like Madrid) and is spacious and uncrowded. They have comfortable white couches and a few cocktail tables scattered around the terrace, assuring that you'll have intimacy and not be forced to overhear the chatter of your neighbors. I went at 10pm on Sunday night, and there might have been 6 people at the most. So, if you're looking for the glammy Ibiza-style rooftop vibe, this isn't your place (but there are plenty of those in Madrid, as well). However, if you're looking to share a reasonably-priced bottle of wine with your significant other under the stars and the glow of the Chicago-school architectural gems on Madrid's main street, this is it!
But, be careful. Apparently the terrace is no longer open to visitors if you're not a guest of the hotel. But (a tip for pros) we had no idea of this rule change and went right up with no problems. Just act natural! ;o)