We had an incredible stay at Palacio do Visconde. The breakfast in the morning may be pricy, but it's absolutely worth it at least once (and with the amount of food, it's really more of a brunch!). The coffee was superb, and the service wonderful. The location may initially seem out of the way, but the more hip/less "established" neighborhood near Intendente has great food (and great fusion cuisines) and is right on the green metro line, which gets you everywhere very quickly. And, as a plus, tram 28 stops right outside the hotel door, so you're never more than a crowded 10 min tram ride away from the heart of the Alfama. All in all, a lovely experience, and we look forward to staying there again next time we are in Lisbon!