The hotel is housed in a restored 19th-century building. One floor is completely non-smoking. It also offers well-equipped meeting rooms, a restaurant and a cocktail lounge.
Bedrooms at the Preciados are tastefully decorated, and most have a balcony. There is also satellite TV and a pillow menu.
The hotel is a 5-minute walk from the Plaza Mayor and the Royal Palace. It also has excellent public transport connections, with 2 metro stations within 75 metres