We loved it! It was close enough to the touristy areas, yet far enough away so that you feel like you're staying in the "real" Prague surrounded by locals. We walked to and from the old town and castle a few times. It's not far - about 3-4 km. If the hilly walking gets to be too much, there is a tram one block away (#16 and #22) that take you down in just a few minutes. There are a few wonderful restaurants within a few blocks. They had delicious food and were "much" cheaper than old town. The bed was comfortable, and there was plenty of room for two people - three could easily sleep here. It's like having your own studio apartment. There is also a small kitchenette which we used to reheat food, refrigerate beer and olives. Oh - and there is an amazing Greek bakery/deli two blocks north. Great place to stay!