Right on Vaclav's Square (Vaclavske namestie), so you are in the middle of action, if you want to go for shopping, have a lunch in fancy or traditional restaurant ot take away. Hotel does only breakfast (we didn' t have an option for lunch or dinner there). Breakfast = ok, accomodation = superb, everything was clean and tidy every day. No noise from street. And we had a coffe all day long from machine downstairs. (You need to double check if this offer is still on). Receptionist spoke fluent english and gave us a good tips about restaurants around. It's a great choice if you are going to Prague for a weekend or so and want to explore centre of Prague.