Thanks to Madrid Man, I booked a great, inexpensive hotel for my stay in Madrid. La Perla Asturiana (Web site: www.perlaasturiana.com) is a budget Hostal in a great location, just steps from Plaza Mayor and a couple of blocks from Puerta del Sol and Plaza Santa Ana. I booked a small single room - with bathroom, TV and telephone - over the Internet for about $30 per night. The room (and bathroom) were quite small, but more than sufficient. Breakfast was not included in the price, but there was a café downstairs that served great café con leche and churros. With all the restaurants, cafes and bars in the area, you certainly won''t starve!