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Chief
How budget friendly, when are you going, what are you looking to get out of the property?
Traveling during Jan, something around $130-140 per night
Hotel Europa ~$150 (close to Plaza Mayor)
B&B Hotel Madrid Centro Plaza Mayor ~$130
SLEEP’N Atocha ~$110 (close to the Botanical Garden and El Prado)
I should have asked that question before I suggested a Marriott 🙃
El Autor Hotel. It’s a Marriott property
UMusic Hotel Madrid was conveniently close to Plaza Mayor and all the touristy areas. I stayed there for two nights last fall. I don’t think it’s within your budget however, I don’t think it’s too far off.