The Madrid hotel prices have dropped the most in 2009, down 31%, according to price comparison website Trivago. This world-class Spain capital has all the amenities one could ask for, such as medieval monuments, a bull fighting museum, picturesque villages, European nightlife, delicious local cuisine and fiestas all year round! Travelers come from all around the world to see the El Cason art gallery, where you can see original works by Spain's most famous artist, Pablo Picasso. You can also visit the Museo Arqueológico Nacional, which is the archaeological museum that houses gothic and prehistoric art, and the Plaza Mayor which is home to bullfights. There are many things to see and do, so read on for tips on booking the top hotels that Madrid has to offer.

Hotel Ritz is perhaps the most booked Madrid hotel. This elaborate building has housed the likes of His Majesty King Alfonso XIII, but today it's heralded for its excellent location, as it is mere steps from Retiro Park, Teatro de la Zarzuela, the Prado museum, the Thyssen Bornemisza and the Centro de Arte Monderno Reina Sofia. Hotel Ritz offers all the modern amenities, with marble bathrooms, hand-woven carpets, embroidered linen sheets and stunning views of the garden hotel, the lealtad square or The Prado. You can also feast until your heart's content at Goya, which dishes out local favorites and international cuisine alike. For more information, visit www.ritzmadrid.com.

If a "ritzy" Madrid hotel isn't really your thing, then you'll be happy to learn there are many hostel choices in the city. For just $19/night, you can stay at the Mad Hostel, the Cat's Hostel, International Hostel Posada de Huerta, Hostal Oporto or HostelOne Centro. These budget accommodations are ideal for young people looking to mingle with other travelers and fiesta every night, although many couples who care more about the adventure than hanging out in their hotel room also enjoy this experience. Many budget hotels are located right in the heart of downtown, with museums, shops, restaurants and attractions within walking distance. Visit www.hostels.com for more information.

There is yet another type of Madrid hotel to choose, and that is the bed and breakfast. At www.madridbandb.com, you will find a directory of charming, historic properties that serve sumptuous feasts each morning and offer more privacy than a typical hotel. Typically, guests will enjoy large beds, tranquil gardens, luxurious bathrooms and access to common areas and an outdoor swimming pool. Many of these bed and breakfast establishments even have dogs or cats on the property, so you can soothe some of your animal homesickness while you're away. Most B&Bs are conveniently situated down quiet streets near the city centers. Why try to find hotels when you can stay in an elegant Spanish mansion?