Starwood's The Westin Palace, Madrid -- a Conde Nast Traveler Gold List hotel for five years and Certificate of Excellence 2011 by TripAdvisor -- has reduced its rates by 46% for summer and fall travel.

Exclusively for Travelzoo subscribers, Double Deluxe rooms are $204 (€139) per night July-August, November-December, including SuperfoodsRx buffet breakfast* (worth $46 per person).

The Westin Palace usually charges around $291 for a single night in summer without breakfast; and rates start at $319 in November and December. Rates at other upscale hotels are similarly high in this pricey area of Madrid.

Not available on: July 7-10, 16-20; Dec. 31

Also available: For $262, get a Premium room with city views and SuperfoodsRx buffet breakfast, also a 46% savings on its best available rate.

Located in a prestigious area in the center of Madrid, the hotel is within walking distance of the famous Museum Triangle, the Royal Palace and Retiro Park. Commissioned by King Alfonso XIII in 1912 and recently restored to its original splendor, its rooms are decorated with antique furnishings and original plaster details.

Note: Rates will be quoted in Euros at €139 ($204), including taxes*.