The good thing about this place is the location, it's around the corner from the Charles Bridge but on the opposite end of it from the main square, so that it's not too noisy and crowded. You can go across the bridge for the fun and then come home to relative quiet. It also has a nice restaurant with a beer garden - we didn't eat there but had some drinks and it was very pleasant. There are also a few other really cheap beer gardens in the hood. It's also really spacious.
However, if you are looking for pristine accommodations, you should avoid this place. It's really run down, and the kitchen and bathroom did not seem very clean. There was roach and ant spray left out which was a bit off-putting. I mean, it's probably not unheard of to have creatures in a hotel, but at least put away the spray so your guests don't know!
Our room was right next to a parking lot so it was fairly noisy early in the morning and I didn't feel that there was much privacy.
Also, the term "free parking" is used very loosely - when we arrived, George took my brother to a street in the castle district (a far, uphill walk from the room) where there are no meters and told him it was ok to leave it there. We could not have found it again on our own if you had paid us, and we worried about its security the whole time as it was a rental car. So I don't think parking should be advertised unless it's adjacent and secure.
Back to the room, the toilet didn't flush well and we were actually afraid to use it so we ended up putting our TP in the trash can next to it.
All in all it was an ok experience - great location, but not sure it was worth it considering all the other issues.