We were two adults, two kids, stayed in 1.5 height ensuite room with a sleeping platform on top for kids, super. Lovely staff, fantastic location in the heart of Rome, and unbeatable prices. Easy to see why it has near legend status on the various savvy traveler sites.

My husband and I stayed 3 nights here in June and thought it was a nice, budget option in a fantastic neighbourhood.
The hotel is located a 2 minute walk from the Piazza Spagna and 3 minutes from the Spagna subway station, and as a result we were able to take the Metro everywhere in Rome, which made the massive city much more navigable for us (we found all of Rome fairly walkable, but some of the neighbourhoods are not as close to the Metro lines). It is right in the ritzy Via Condotti shopping district, with many restaurants and shops just below, a lovely place to take a stroll at night.
We stayed in a double room with private bathroom - this had a king-sized bed, no TV, it was basic and clean. The room itself was not overly small, but the bathroom was quite tiny (the shower is certainly built for smaller-sized individuals, it was a bit of a gymnastics routine even getting into the shower door, larger individuals beware).
We had asked for a room with air-conditioning (an extra 6 Euros per night) - and although they mixed this up, it was no problem getting the remote for the air-conditioner that was in the room already.
A small problem was that our air-conditioner was supposed to be connected to a sensor and turn off when the window was opened - ours was somehow programmed backwards and turned off when the window was closed. In 35 degree temperatures, we could not have BOTH the window closed and the air conditioner off, so we had to keep the window a crack open to have the air conditioner on, which means much of the noise from Via della Croce below filtered into our bedroom (when we did close the window though, they were quite soundproof). However, I actually quiet enjoyed taking a siesta and listening to the chatter of bella Roma below (earplugs worked for the evenings, and my husband sleeps through anything).
There is no breakfast, but D'Angelo's just on the corner serves the best pastries we had in Italy, there is also a supermarket up one block and a small alimentieri across from D'Angelo's.
On the last morning when we went to pay, their Visa machine was not working, so we had to run around the corner to find an ATM and pay in cash. This can happen everywhere though, of course.
We would stay again, especially because of the amazing location.

We stayed for 2+ weeks, and the Hotel Panda was the worst hotel experience of our lives. My best friend stayed at a youth hostel in Berlin, which was much better for a fraction of the price and compared Hotel Panda to a youth hostel in Rio, which cost even less than the Berlin hostel. We have also stayed at an infinitely better place for less in Tokyo, the most expensive city in the world, and we live in NY, the second most expensive city in the world. We have also stayed at 4 star hotels in San Fran for the same price. In 2+ weeks, the bedsheets were only changed twice during our stay (you can tell, cause the sheets get wrinkled, and clean sheets are crisp), the towels were also not changed on a daily basis (they even just took a towel that was on the floor and placed it on top of the other towels on the towel bar), the sink was only cleaned once after 2 weeks, and the floor and everything else not at all. On a daily basis, someone only made the bed and took out the trash. The shower tiles were filthy, and there were puddles on the bathroom floor. They also ran out of toilet paper and had no replacement roll at one point. The only thing provided in the room were 2 small packages of harsh soap. The room is miniscule (and I'm coming from the viewpoint of a New Yorker used to the tiniest closet apartments in the states). The "double" bed was actually the size of a twin, and the room wasn't much bigger than the "bed," which was actually a futon placed against the wall, which had a wooden board glued/nailed on it to make it look like a headboard. The futon dipped in the middle. The pillows were also so uncomfortable that I slept without one the entire time. I was expecting the size of the room, but the uncleanliness was ridiculous. I found a dead bug on the bed the first day and another kind of insect crawling on the floor a couple weeks later. The front desk said that the free wireless can only be used by your own laptop in the lobby. It took half an hour to load one site, and one of the sites never loaded. Most of the stay the internet was slower than molasses. We're talking way slower than dial up. Only on one day was it working properly.

Around 1 am one night, we smelled fumes so harsh that we, along with others in the building in rooms facing the courtyard, were coughing uncontrollably. We had to leave the hotel for half an hour til the fumes cleared. We called and went to the front desk, who later told us that the restaurant next door had some guys (who were wearing gas masks) spray mosquito spray in the courtyard. On another night, the same restaurant blasted music til 12:30 am, which is the time the front desk told us that they were allowed to blast music til.

At checkout, the front desk attempted to charge an additional night and charge for using the phone in the room when I had been told that using the phone was free as long as I called the local access number on my phone card. Needless to say, they failed.

The hotel is located near the Spagna subway station. It's located in a safe and clean but touristy neighborhood. My best friend recommends the nearest cafe for the best cappuccinos and double espressos in the neighborhood- the guy in the red vest serves sandwiches, drinks, and pastries at the counter. Beware of the closest bar/pizzeria that's open late- the cashier claimed my bill (which I bought from the bank here in the states) was counterfeit and tried to take it. Like that's gonna work on a New Yorker. Also, the bartender, who took awhile searching for a certain beer for the Italian customer before us, tried to just give my best friend the first beer he found instead of what he asked for.

I'll definitely never stay at this filthy hotel again. I have no idea why it's recommended by anyone. A third world youth hostel was cleaner than this.

would recommend hotel panda - VERY small so be forewarned, took a little bit of getting used to for two americans used to our huge hotel rooms. However staff was friendly and helpful, room was quiet and very clean (impressed with cleanliness actually), bed comfortable, and location superb. Also although it was very small, room was well appointed (esp. bathroom), plenty of places to put stuff. oh yes and shower was excellent, plenty of hot water and good water pressure.
oh yes and it was a little hot in our room (lucky us we were in italy during a heat wave), anyways asked for ac to be on - receptionist initally told us it is only on from 6-10 (???) - anyway stayed on all night and kept us comfortable. oh yes and remember that window has to be closed before ac works - not sure how they do it, but makes sense.