We stayed one night at the Maydrit Hotel, near Barajas Airport. The hotel has much to recommend it. The price was very reasonable - - a little over €100/night for a super clean, good-sized, modern room. Breakfast is included, and the restaurant serves up quite acceptable lunches and dinners. A free shuttle to or from the airport completes the package of features.
The best thing, however, was the friendly and helpful staff. The day before we were to catch a flight to Casablanca, to meet up with our tour group, I received an email from Iberia Air that our flight had been canceled. The included phone# gave a recorded message, in bullet speed Spanish. I know enough to catch the word for unavailable. I asked one of the men at reception for help who told me that Iberia will actually have seats available for passengers with special circumstances. He had a number to call, and got through immediately. He explained that we were needing to meet up with a tour group; and, voila!, a seat was found on Royal Maroc Airlines, leaving just an hour later than our original one.
Throughout our stay, all staff were similarly kind and helpful.
I second this recommendation. We usually stay here the night before we fly out of Madrid. If you have time, the subway station is a short walking distance from the hotel and you can get most anywhere on the subway. They have a pool and a decent restaurant. Nice, clean rooms and a friendly staff.
Sounds like a find - thanks for posting about it!