The hotel overall is very nice, and with cheap and always available transportation to the city center, the location is great as well. There is a restaurant and a bar both in the lobby, as well as several choices within walking distance.
The only issue we had is that the air conditioning didn't function. Our room got a little too warm at times. There is a sticker on the window asking to keep it closed so the A/C functions correctly, which we found ironic because it didn't work at all.
Overall, a good experience. The next time we go to Prague, we will definitely consider this hotel again.