I am planning a 5 day trip to Madrid in February.
Hotels that I am looking at are Vincci Soho, Husa Princessa and Westin Palace. Any thoughts on these hotels?
Also I want to visit Toledo for a day. Would it be better to spend the night in Toledo or go back to Madrid in the same day?
Any hotel suggestions for Toledo?
Thanks for any and all ideas.

I have stayed at the Westin Palace and it is very nice. The location is excellent (right beside the Prado). The Westin has a very nice bar. The staff was helpful. I think you could do a day trip to Toledo by train. It would save you moving your luggage for one night.

Toledo is a very quick and easy trip from Madrid. If you only have 4 nights I'd do it as a day trip.

Toledo is a charming little city in the evening after the day trippers have departed. I always suggest staying the night in Toledo but the distance from Madrid is short and easily manageable on a day trip basis. If you have the time also see Segovia.

If you have already seen Maribel's guides to Spain I suggest taking a look; I think they are quite good (although I disagree with her assessment of Toledo).http://maribelsguides.com/

We just returned from Spain and I wish we would have stayed longer is Toledo. After visiting Barcelona and Madrid for several days, Toledo was a very nice welcome for relaxation and sightseeing true historic sites. I would highly recommend spending a night or two in Toledo because the city is captivating (especially at night). I would also recommend staying at the Hostal De Cardenal. We've stayed at several hotels during our travels but the Hostal De Cardenal is by far the best hotel we've every stayed at.

I would side with floydvic and traveling-duo. It would be a shame not to experience Toledo at night if you can do so. Toledo takes on a very different character at night and is wonderful. We enjoyed the Cardenal too.