There is a cheaper way to get from the airport to your hotel. Use public transportation.
1. Take the Metro from Barajas airport to Nuevos Ministerios (17 minutes); there is direct access from all terminals (just follow the "Metro" signs), but stations are particularly near Terminals 1 & 4.
This will cost you 4.50 € or 5 €, depending on how far is your final destination. Inmediatly before entering the station there is an information booth (where you can ask about visitor/tourist tickets for 1 to 7 days if interested) and many machines near the main entry that take cash and credit cards. Also, this line of the Metro (Linea 8 - Rosa/Pink) is one of the newest lines so there are escalators and elevators to help you.
At Nuevos Ministerios you can
- Change lines to any other destination (see interactive metro information in English), no need to buy a new ticket.
- Exit the station and get a bus (see simplified bus map for visitors, Nuevos Ministerios is in the top-centre) if you are light on luggage. "Paseo de la Castellana" metro exit is recommended for better bus access, there you can (for example) take line #27 that will take you to Colón/Cibeles/Atocha in a few minutes with its "bus only" lane. You need to get a new ticket when you board the bus (1.5 €).
- Get off of the Metro line and enter Cercanías, the regional light rail line (connection is made in the same station, no need to go out to the street. Also, see the Cercanías map, Nuevos Ministerios is around the centre). In this case from Nuevos Ministerios, you can get off at Recoletos (between Colón and Cibeles), Sol, Atocha... Nuevos Ministerios is another new stop so you will also have escalators or elevators there. At Sol (the most recent addition to the Cercanías network) you will only have to climb one rather short stairway. The trains from Nuevos Ministerios - Sol are on Tracks/Vias 5 and 6 while the trains from Nuevos Ministerios to Recoletos or Atocha are on Tracks/Vias 1 and 2. This will cost you 1.20 euros (more if you go to distant destinations, as Cercanías can take you to places in the Madrid Region as far as El Escorial or Aranjuez).
Total cost of this trip is 2.50 to 3.70 euros per person, depending of option taken. This can be done it with two pieces of rolling luggage. Recommendation is to wear money belts and be reasonably alert but one doesn't have to be particularly physically fit.
2. If your final destination is around O'Donnell street, Puerta de Alcalá, Cibeles, Recoletos/Museo del Prado or Atocha you can also take, directly from the airport, the Express Bus Service (5,00€). But remember that traffic conditions in Madrid can be terrible, and as a general rule it is better to go underground, specially at peak hours. http://www.emtmadrid.es/lineaAeropuer...
3. And there is a CERCANIAS train that runs from TERMINAL 4 into the city stopping at the important main line stations of Chamartin and Atocha plus others. If wanting to take this local comfortable train to/from the other Terminal buildings you can use the free Shuttle bus that runs between all Terminals and is quite quick.
Cercanias is regional light rail. There are no transfers and five stops including the final one at Puerta de Atocha. The trip takes 27 minutes and leaves every 30 minutes from TERMINAL 4. No matter where you land there is a free shuttle train to TERMINAL 4.
For Terminal 4 to Chamartin, C1 train takes 12 minutes.
Attached is the schedule. First one, to Atocha to Aeropuerto/airport; second is Aeropuerto to Atocha. If you want to see the complete schedule just click on the one you want to see. The line you want is C-1. I am not sure of the price, but it should be under 5 euros/person. Bus is about the same, but you have traffic to contend with that can make the trip longer.
redtransporte.com/madrid/…linea-c-1.html
More information about travelling from the airport can be found on AENA web site for Barajas and there is a helpful PDF map