Got a great deal walking in without a reservation for 5 nights. 70 Euros for a double. Everything I needed plus. Everyone mentions walking down to the National Museum (Wenceslas Square) but you can also walk in the other direction (uphill) to the I. P. Pavlova metro and tram stop. Here you can catch the 22 or 23 trams which go to Lesser town, Prague Castle, and the monastery. Get a day pass for metro and trams - some of the tourist areas are a climb uphill.
Nice room, quiet, great Czech beer in the lobby bar, friendly staff, ordinary European breakfast buffet with lots of choices in a nice "sun"room, free high-speed dialup internet, sauna, hot hot water, wonderful lobby.

What a great hotel. The rooms were spotless and the cleaners did a brilliant job. The bathroom was also very clean and with a large shower cubicle.
Outside, it is literally just around the corner from Wenceslas Square (around a 5 minute walk) and close to a few good bars that are great value.
The breakfast was more than adequate and the staff were very efficient. I can't think of anywhere better that we could have stayed.

This hotel is great. I took my mom here for a long weekend as a Christmas present. The room was great. The bathroom was very large with a big corner tub. The location is great, just a short walk from the metro stop and just down the hill is Wenceslas Square. There is a sex shop across the street, but really it's not a big deal, there were never any "undesirable" types hanging around. The staff at the hotel was friendly and helpful and everyone spoke wonderful english. The breakfast was good.

The hotel is located a 5 minute walk from the main tourist area.
The hotel itself is lovely inside and the rooms are big and kept to a very high standard with the maid coming in every morning and changing the towels.
The area outside the hotel is a bit run down with most of the surrounding buildings but as the hotel is close to the centre, it more than makes up for its location. There are many fine restaurants within the side street area's and all are reasonally priced and much cheaper than eating in the main Square area.
Breakfast is served buffet style and there is plenty of choice though strange eating scrambled eggs with diced peppers.
Overall the hotel is well worth a visit and we would be more than happy to visit it again.