Madrid Mad Hostel By fudgepineapples on - Updated Oct 15, 2011
The Mad Hostel, located in downtown Madrid, Spain near the train station is my favourite hostel of all time. The hostel feels extremely secure, due to an ingenious bracelet/lock system, and the rooms are clean and spacious. The showers in room are worth paying a little extra for, as they are cleaned regularily. The communal showers smelled like urinals and were a little suspect. The bar is seldom open, although it claims to be open every night. To make up for this, there is a beer vending machine (and a cheap grocery store just a block away!), and pub crawls offered for free almost every night. The staff are courteous and easy to deal with, and the kitchen has all the tools you need to make a decent dinner (except an oven). The rooftop terrace gives this hostel a great community feel, and it's a wonderful place for solo travellers to meet new friends. Although this hostel has an exercise room, I never saw it used, but if you are an active person, it's an added bonus. The Mad hostel is a great place to stay, as it's clean, comfortable, and within convenient walking distance of all the sights.
Mad Hostel Madrid Purchased at: http://www.madhostel.com/ Price: 15 euros a night

Sounds like a really great place. Thanks for the info.
I bet Madrid is absolutely beautiful & staying at the hostel definitely saved you money so you could spend your money elsewhere!