I changed my reservation from Hotel Preciados to the Artrip after reading reviews on TripAdvisor. My reservation was for 2 nights, but I checked out early and went back to the Hotel Preciados.
This hotel is lovely. The rooms are clean. The hotel clerks are very nice.
What I didn't like is that they store people's luggage (a nice free service) in the common area where anyone could take off with it. The lobby entrance is locked. When I first checked in, my room was not ready so I dropped my bags and headed for the Prado. When I returned, I had to wait a good 10 minutes before anyone buzzed me in. That was frustrating.
The location is not as nice. They are a close walk to the Regina Sofia, but quite a walk to the Prado, or Plaza Mayor. I travel Europe by myself frequently, and this is one of the only times where I did not feel safe walking around the area, especially at night. Lots of men approaching me, and things that made me uncomfortable on my walk to and from the Plaza Mayor area. Also, I couldn't find a single restaurant where anyone spoke English (even the restaurant they recommended). I finally went to the grocery store where I could make a purchase. Very frustrating.
If you are with others, maybe you won't mind the location. But I am so glad that this is not the first place I ever stayed in Madrid, because I would not have fallen in love with the city the way I did when I stayed at the Hotel Preciados.
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