How to Spend an Indulgent Day in Madrid for $2,400—or $400

The Spanish capital is veritable bargain when compared with Europe’s other top cities. Andrew Ferren tallies up two winning itineraries, one high-end, the other slyly thrifty

$2,400 a day

Very deep pockets are not required in Madrid, where you can acquire an abundance of basic survival needs—food, wine and culture—quite reasonably. But if your lifestyle depends on rare vintages and astronomical thread counts, the city can handily deliver those too.

SLEEPING QUARTERS Hotel Santo Mauro is not the “latest” place and that’s precisely the point. Located in a 19th-century nobleman’s palace in the city’s prettiest quarter, it provides layers of style and tranquility. There’s also top-notch service...