Hotel Preciados is located in the heart of Madrid, a short walking distance from the Plaza de España and Palacio Real. Hotel Preciados has been completely rebuilt on an historic site, dating from 1861. The original façade, entrance, stairway and many details throughout the building have been preserved, while the rooms and facilities have been rebuilt from scratch to provide modern comforts.

Some small touches include original art in all the rooms, a choice of pillows, bath towels and bath kit. All rooms have individually controlled heating and air conditioning, sound insulation from both the street and from other rooms.

On the ground floor, serving Mediterranean cuisine and has an excellent wine list. The site of the current dining room used to be a well-known café (Café Varela) where poets and writers met to discuss current affairs. Some of the more frequent visitors included Emilio Carrére, Miguel de Unamuno and the Machado brothers.

Hotel Preciados has conference rooms for business functions, car parking in the same building and is well connected by public transport.