The hotel is nice and in a perfect location - walking distance to everything. The rooms clean and cool, good bed, nice atmosphere and nice staff.
But avoid the so called breakfast buffet! It only consists of bad bread (earlier frozen), bad coffee, boring ham and cheese. There's absolutely nothing Spanish about it. Just not worth the money nor the valuable time at all. You'll miss out on real life.
Instead go to the closest bar, or to the San Miguel market by Plaza Mayor, where you can get real coffee and great Bocadillos with Jamon or Chorizo for half price - you will also get the nice Madrid morning atmosphere for free.