Mayerling Hotel

In the heart of Madrid de Los Austrias – Madrid’s charming old centre – and just a few blocks from Plaza Mayor, this former fabric warehouse does the basics with flair.

Great design often means extortionate rates, but not here: the sleek, minimalist rooms have all you need – beds, showers and clever space-saving storage – with the sharp design you’d expect from a four-star hotel.

There’s a petite roof terrace with sun loungers, help-yourself snacks and drinks, and the location is brilliant for both sightseeing and dining. This bargain boutique is one of Madrid’s best affordable stays.