My wife and I were able to only spend one night (January 11, 2012). Kristina, one of the owners, spent as much time with us as if we were there for a week. She welcomed us most graciously, having arranged for a taxi to meet us at the airport and sweep us into Prague. Then she laid out a one night and morning walking tour - we took her advice and crammed into 18 hours some wonderful sightseeing. We ended the night at the pub two doors up from the hotel, (http://uziznivehojelena.cz/eng/index.php) and had a great meal and some beers. Of course, this was a Kristina recommendation!
If you stay here, do plan on walking; it is located on the other side of the river from Old Town. We love to walk, so location was not a problem. And, frankly, Prague is a tourist destination, so NOT being in old town is a relief.
We'll be back.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC