If you're in Madrid for a short tourist trip, this place is ideal. Seriously, if you spend all day out sightseeing and just come back exhausted to shower and sleep, then what they offer is exactly what you need and it's perfect for you.
However, if you're a light sleeper, highly value your privacy, or prefer to spend time relaxing at the hotel, then it's not for you. Obviously, in shared rooms, people are constantly coming and going at all hours. You don't know if you'll get the top or bottom bunk, and depending on who you're sharing the room with, they might be more or less noisy, or more or less tidy and clean.
But again, for my stay, it was perfect. Plus, I was able to leave my luggage after check-out until my flight time.
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