My mom and I stayed at the Eden Neptuno . We read the reviews previously and the fact that it was in the center of everything we booked it...The hotel has all the basic things you need. It is not a five star hotel but it isn't a hostel either. We had a very clean room with above average furniture, the bathroom is very nice.I was a little surprised , because when you see it from the outside, and the small lobby, you are thinking the worst, but it was a great surprise. All the sight seeing, shopping ,and food is walking distance , even the free shuttle that takes you to the airport...the only bad thing is ,since it is in the center of everything , the city never sleeps....so if your room is towards the street, you may have to be a heavy sleeper because it can be pretty loud,The room has a small window that you can walk out of and enjoy the scene....don't do the breakfast there , it isn't worth 5 euros...but I would stay here again , especially if you are on a budge but you are also used to the finer things in life .

I stayed here with a group of 13 friends in mid-June 2011. Overall, we were very pleasantly surprised with the hotel.
It has a great location just a few seconds from the Plaza del Sol. This is a great location to stay in if you want to walk around Madrid, as from this location, we covered pretty much the whole of the city. There are great bars and restaurants nearby, you can walk to Retiro Park or Plaza Mayor, and the subway is just seconds away too if you want to go further afield. The hotel IS on a street which is part of the red light district, but we had no problems. Apparently it can be a bit noisy if you have a room that faces on to the street, if this bothers you, just ask for a room which faces on to the inner courtyard (no beautiful view but fairly quiet).
Do be careful of your belongings around here, because there are a lot of pick pockets operating in the area. However, we had no problems whatsoever with the hotel.
The rooms are basic but clean and comfortable, with generally good bathrooms.
Overall, this is a basic hotel, but great if you want a cheap city break in the centre of Madrid.

We stayed here, in a triple room and we had a most enjoyable stay. We definitely would stay in this hotel if we were to visit Madrid again. We wanted for nothing here, and the multlingual staff were so nice. The hotel is located right beside Sol Metro and Gran Via Metro is at the other end of the Montera street. It is so central for visiting everything.When we visited Paris and Milan we stayed in hotels which were not central and we were killed travelling every day.It only costs 2E to get to the Airport, just a few simple changes along the way, whereas a taxi can cost 35 to 40 E.You can close the windows and the shutters to block out the street noise and the air conditioning is brilliant. The hotel is very modern and very clean. What more can I say, stay there you won't be disappointed. And the mattresses were spic and span and excellent quality, if one person moved in the bed the other person wouldn't be disturbed.

We requested a room away from the street as we had heard it could be noisy. We also requested extra pillows because other reviews said the pillows were thin. Easy to ride the mietro practically right to the door (only about 200ft from the metro). When we arrived within 5 minutes 2 different maids brought our extra pillows. And we did get an inside room. It was basic but clean and comfortable. Two twin beds shoved together and the beds were a little firm but comfortable. The bathroom was roomy and clean. It did have a hair dryer. We only stayed one night. The breakfast we thought was very good, It had fruit, cereal, yoghurt, cheese and meats, bread and breakfast rolls. All the staff we were in contact with were very friendly and helpful. One man suggested we take the bus back to the airport as we only had to walk down the street about 10 minutes and the bus took us all the way to terminal 4 at the airport (where international flights leave from). The metro was fun but had to transfer trains a few times. It wasn't the Ritz, but we can do basic with no problem. We would definately go back. A tip to other travellers who have trouble sleeping because of noise - take earplugs with you when you travel. I use the silicone kind and they work wonderful.