Refined, extravagantly decorated rooms make Casa de Madrid a luxurious choice overlooking the Teatro Real. Rooms, in an 18th-century building, are awash with antique furnishings and marble busts, with each built around a theme (eg Japan, India). It’s a little like staying at the Ritz, but more discreet.
It's also without the service – there's rarely anyone on hand and rooms are cleaned only upon request.