We stayed in this hotel for 1 night on a week-end for pleasure.

The hotel is really nice looking. There is always staff to help you with your luggage, check-in was quick and the employees are courteous. Our room was really nice, well decorated and clean. The bed was alright but I have seen much better beds in cheaper hotels.

We easily got late check-out. There is free wifi in the lobby and lounges, however, it was not working correctly, so they gave me a password to get on the paid wifi for free.

There are a few employees that do not understand really well English, witch caused them to come back for a drink three times in a row.

Food and drinks are really expensive with breakfast at nearly 40 Euros and a glass of Vodka at 27 Euros (just 2 examples).

The hotel is well located, near the Prado and 10 minutes walk from Plaza Del Sol.

This is a great place for a week-end, but it would cost too much to stay there longer.

This is really quite an impressive building, and more so once you are inside. Bookings were made online, and once we arrived, check-in was quick and painless. A tiny lift takes you to your required floor, once you have managed to get your room card to activate the internal lift buttons, which takes a bit of juggling, and we were not alone in this.
Doors to rooms had the appearance that you were entering an apartment, and once inside, the rooms were a very good size. The bathrooms all marble with 'his and hers' sinks, a huge shower head which was great but a little underpowered and bathrobes etc as you would expect. All very clean and well presented.
Breakfast was excellent, with a buffet style selection catering for most tastes ranging from congee and samosas, to a chef cooking your eggs to order, through to a full English fry-up, including a glass or two of Cava should you happen to be an alcoholic and need a sharpener for the day! The setting of the dining room with it's stained glass dome is quite spectacular.
The bar in the evening is quite pleasant and atmospheric, but pricey as expected. We did not notice any traffic noise when we were there and the location was excellent for our needs which was a long weekend break. Lots of tapas bars nearby frequented by locals and not tourists which was perfect.
Staff were always on hand and helpful should you require it. A very pleasant experience overall.

Hotel is in a perfect location. It's beautiful and elegant, but very expensive. Room service menu continental breakfast is 30 euros, a martini is 22. Outrageous! Stay here, but don't eat here. They are wonderful little restaurants within a block.

My wife and I stayed at the Palace Thanksgiving week. It is a grand hotel celebrating it's centennial anniversary this year. It truly is a 5-star hotel by European standards. Good value especially if you are a platinum Amex member. Will definitely return.