Spent four nights here between Christmas and New Year. It's in a quiet street within easy walking distance of all the main attractions and very handy for Petrin Park and the funicular - watch out for the Red squirrels! (Make sure you go up the mini Eiffel Tower at the top too, the views are spectacular and well worth the 100Kr cost).
There is a good little mini supermarket just along the street and plenty of places to eat nearby and tram stops just along the street.
From the rooms description we thought they all had a kitchenette, but this wasn't the case with our room and there was hardly any cutlery or crockery. Having said that the room was perfectly fine, with very comfortable beds and while we were there it was very quiet at night ( and I'm a very light sleeper).
Breakfast was the usual buffet with a good range of hot and cold choices.
Don't rule this hotel out if you are visiting Prague as it is probably a very safe choice, but just not anything special or fancy.

Stayed here on a 3 day trip to Prague. Large comfortable room with plenty of space for 3 adults.
Great location, easy walking to all the main attractions but quiet area.
Buffet breakfast good with plenty of variety.
Staff very pleasant and helpful.

We came home last night from Prague, a great 3-day city break. The Hotel Residence Mala Strana was in a good location, close to trams and buses, but in the side street, so quiet at night. Beds were really comfortable, room was clean. Room 504 has attic windows, so no view. Buffet breakfast was plentiful with choices of hot or cold food. The staff were friendly and smiled all the time.
Now, here is the puzzle - the hotel room no 504 was a Junior Suite, advertised as having a kitchenette, kettle, minibar and fridge etc. In fact, there was no kettle, one cup, two saucers, three knives and two forks, and a few mismatched plates. We managed to request a kettle and one cup from reception - but no glasses to drink from, so how could we use the minibar contents?
Also, the plug in the bath (which is not full size) did not work - couldn't get it out, once in the plughole - we had to use our ingenuity. Reported to reception on the first day, but nothing was done by the time we left.
So, a couple of small issues, which would make the difference between deciding whether or not to stay at the Hotel Residence Mala Strana another time - Elena or management, maybe you can provide answers?

I travelled to Prague yet again in the beginning of November ( been there about 20 times in last 20 years. I tend to go there at least once a year recently.) and stayed at one of my favorite hotels Residence Mala Strana again, this was my 5th time at this hotel, I think. Nothing fancy, of course not but their rooms are large enough with sitting area and equippend kitchen facility. They don’t have real single rooms so even when you are alone you will get a double room (with a two separate beds – probably they have no rooms with one gig bed). Located at the edge of Mala Strana district, one of the old town areas of Prague (but not Stare Mesto "old town"). 7 minutes walk to Charles Bridge (castle side) over peaceful Kampa Park. 15 - 20 minutes walk to the Old Town Square so quite central yet far enough from the crowd of tourist central. Many tram lines pass there (Stop Ujezd). Breakfast descent. A tiny old TV set if it matters to you, not to me. I paid this time €90 for 3 nights (!) yes, so it was 30€ per night. I find it ridiculously cheap for the quality of the hotel. Ok i twas the lowest season rate I guess and I got their offer of pay 2 nights and the 3rd is free. If I had stayed only 2 nights, I would still have paid €90 , that’s € 45 per night. Still not bad. They have one free pc at the lobby for internet access. I did a web check-in for my return flight there and sent the boarding pass to the hotel's e-mail and they printed it for me. I like taking a short walk before breakfast, even in freezing winter, to Charles bridge and enjoy the almost empty bridge (you never get that during the day) with the rising morning sun. I do that at least once every time I stay in Prague and for that reason too I like this hotel.