Overlooking the Neptune Fountain and its quiet plaza, the Westin Palace lies opposite the Prado and Thyssen Bornemisza museums and is two blocks from the Reina Sofia Art Centre. The palatial hotel was built in 1912 on the former site of the palace of the Duke and Duchess of Medinaceli. The entrance hall, decorated with murals of Italian Renaissance gardens, leads through to Rotunda Hall which is crowned with an Art Nouveau glass dome.

The 466 guestrooms are decorated in Belle Epoque style and include plush Heavenly Beds, air conditioning, Internet connections, digital phones, and marble bathrooms with anti mist mirrors, bathrobes, and slippers.

Dining options include international and Spanish dishes at the informal La Rotonda, and Chinese cuisine at Asia Gallery. Set in the most dramatic room of the hotel, the Palace Bar is dominated by an Art Nouveau stained glass dome with flower motif, from which a large chandelier is suspended. Cocktails, and a choice of over 700 wines from the adjoining cellar, are served here, and live piano music is played for afternoon tea. The 18 meeting rooms and banquet lounges are soundproofed and equipped with microphones and audio visual systems. Some of the rooms are wood panelled with Venetian chandeliers, and all benefit from natural daylight.

The business centre adjacent to the front desk has telephone and fax services, high speed Internet access (surcharge), telephone booths, and a meeting area. Club Neptuno fitness centre is open round the clock and offers rooftop views across the Buen Retiro Park. There are around 20 cardiovascular machines, free weights, a sauna, and a sunbed, and massage treatments are available. Beauty treatments including facials, massage, manicure and pedicure, are available on the sixth floor, and a small hairdressing salon is located on the second floor. Just 1.5 kilometres from the hotel is the Filmoteca Nacional showing a rich choice of art house cinema, including matinee performances and original language versions.