The hotel is located near a main road, but it has not an extreme traffic. Just in front of the hotel there is a metro station and bus station, so you do not need a car or taxi to get anywhere in Madrid fast, even at night. On the other side of the street there is an Alcampo (spanish Auchan), good place to buy things of everyday spanish life, not the ones sold for tourists. At Plaza del Peru - some minutes of walk - there are good restaurants.
The hotel has a classic style, the rooms can be opened by key and not card. The building is new, but stylish, it resembles the old spanish ones, it uses the roofed patio as a dining room. Breakfast was fine.
My room was cosy and big compared to an average hotel room. There are just small problems I should mention. First, sound proofing. Fortunately, there is a minimal traffic in the street at night, it does not disturb sleeping, the noises from the corridor or tubes are not too strong near the bed, however, the music played daytime from speakers in the ceiling of the corridor is sometimes disturbing, too loud. The bubble bath presented in the photos did not work. However, the staff was very kind and helpful. I booked the room with continental breakfast but there were buffet breakfasts - I did not had to pay any extra fee. The real estimation of the hotel is 4 1, one minus for the technical problems hoped to be repaired at the next renovation and one plus for the staff and the service that is better than expectable. Highly recommended.