Definitely, needs some renovations, but not big ones.
I had a very very nice corner suite (Room 302), and I guess it is probably the best ratio location / size / price you might get in Madrid.
Size of Rooms
Decent price, including breakfast
Kindness of staff
Very good beds
I would avoid the rooms on courtyard, quiet but very dark!
Noise inside the street, but when you close the window it is OK, and you are in the centre of Madrid! What would you expect!
No international channels on TV !!!
Kitchen needs renovation
Room needs partial renovation
Fungus on batroom joints
You have to change to the next hotel for the Breakfast
They have no clue about cooking scramble eggs. It is not an overcooked omelette cut in pieces! Hopefully, there was a nice spanish tortilla!More