Though one of Madrid’s newest boutique properties, the Preciado Hotel is housed in a wholly refurbished, mid-19th century structure, retaining its original facade, entryway and grand staircase, amongst other architectural details. It has 73 guestrooms spread over 5 floors. Varying in size from medium to large, the rooms are decorated in a chic, modern style, with neutral colour schemes, hard wood floors, opaque glass cupboards and crisp, white bed linens. They are clean and well equipped, as are the en suite bathrooms, which have large sinks and tub/shower combinations. The hotel’s Café Varela Restaurant is located in the same place as the romantic Café Varela (1896-1959), once a favourite of Madrid's literati. It serves a wide-ranging Mediterranean menu, prepared with high-quality products and complemented by a select wine list. Guests can also relax in the exclusive cocktail lounge/bar. This property is consistently well reviewed – in particular for the way it manages to create an efficient yet intimate experience for business travellers.