If a central location is high on your list; El Meson del Marques is the hotel for you. It offers about as good a location as you’ll find in Valladolid. While the front desk is actually on Calle 37, there is another entrance facing the historic central plaza on Calle 39 between Calles 40 & 42. That door takes you into the hotel restaurant but does give access to the hotel rooms and pool area.
That location puts it minutes away from the Catedral de San 
Gervasio, the Mercado de Artesanías (Crafts Market) and the Casa de los Venados folk art museum. On the 4th floor is a deck looking out over the Plaza which gives some lovely night time views like the one in our not-so-professional photo of the Cathedral to the right.
The hotel is also only about 3 blocks from the Primera Classe ADO bus terminal. For those driving, there is a secure parking lot with an entrance from Calle 37.
While El Meson del Marques has a historic feel befitting its name and location, the rooms have all the modern conveniences including free WiFi, mini-split air conditioning, flat screen TV, in-room safe and key-less entry.
The bed was comfortable but in the name of complete candor, the drapes let in light from the central courtyard pool area and for the life of me, I could not figure out where the advertised “private balcony” was locate
d. We found our “Deluxe” room to be slightly small…not so tiny that it was a problem but I think on any future visits, we will opt for a Superior room.
Service was very friendly and accommodating. It certainly wasn’t a problem and actually added a bit to the charm of the place but coming from Cozumel, we were a little surprised at how few hotel employees spoke English. We also appreciated the 1:00 pm check-out.
We enjoyed our hotel breakfasts and found them to be much more substantial than what we would nornally expect from a “continental breakfast included” in the room cost. We also enjoyed lunch in the hotel 
restaurant one afternoon. As mentioned above, the restaurant is right across the street from the central plaza and the location of the tables around a central fountain in an interior courtyard added to the relaxed ambiance. You can read about those meals in more detail on our Valladolid Restaurants page. The hotel bar, where I enjoyed checking my email while drinking morning coffee is adjacent to the restaurant with a few tables in a covered area off the central courtyard near by the pool.
All things considered, we found El Meson del Marques to be an excellent value.