I stayed in this hotel from 22/ 08/2012 for 4 night. So what I am going to say here is a real updated one.
The hotel located in a nice quiet area although it is not very far from the main arractions. The bathroom is big and clean, plenty of hot water whenever you want to take shower. It says free WI-FI everywhere in the hotel but since our room is in the corner at first first, hence the singal in the room was very weak. I need to go to the corridor or the lobby to get internet connection. But it didn't bother me at all as you don't sit in your room to explore the internet all day long while you are on holiday.
Only 5-10 minutes walk to Royal Palace, My partner and I walked to Gran Via (the heart of city center)almost everyday. If you wanted to go to Plaza de Toros (Bullring arena) take the red metro from Opera to Ventos(its the easiest way you don't need to change). You will see the Plaza when you come out from the metro.
We bought 10 trips mentro tickets at airport for Euro 18 for two. Actually we didn't finish it because we walked to everywhere.
There is a club on the groudfloor. I was worried the noise when I read some reviews here. To be honest I didn't hear anything but my partner told me he couldn't sleep well only for one night because of the noise. But overall he is happy for his stay too.
We would recommend this hotel for everyone because it is in good location, nice friendly staff, free WI-FI., big bathroom, etc etc.