Just returned from a 3 day break to Madrid (3-5th April) and stayed at the High Tech Avenida. The location is fantastic. About a 30 second walk from Callao metro station, just turn right at the Zahara bar/restaurant on Gran Via. Slap bang in the middle of everything. The metro is brilliant, so would recommend getting it from the Aiport instead of a taxi as a taxi is about 40 euros each way and the metro is 1 euro per journey! Takes about an hour door to door. (including the 20 minute walk from Terminal 1 and the metro station at Terminal 2).
We stayed in room 331, please ask for a different room if you get this one! The room itself isn't too bad, a bit small if you're staying longer than 3 nights, the decor is really nice (think Habitat), the showers amazing. But it's just the fact that a) there's no natural light as it's at the back of the hotel, b) the pipes for the showers and toilets run by the side of the bed so you hear a constant flush of water and c) it's sooooooo noisy! It's opposite the cleaners room so there are constantly doors banging and unfortunately, whilst we were there we were trapped between a large group of students who screamed, laughed, shouted and played knock down ginger on our door for about an hour - this was all at 3am! So didn't sleep very well. But, this may not happen to you, so you might get lucky.
But the location of the hotel really does make up for everything else. We didn't have breakfast there as there was an abundance of places to eat just outside, so can't rate the food on offer there.
Be sure to try Churros with hot chocolate for breakfast though, it's amazing! And there's a great Irish bar called Moores just off Playa Mayor which gives you a taste of home if you need it.






