DO NOT TAKE THE 5 TRAM FROM THE TRAIN STATION TO THE HOTEL AS INSTRUCTED ON THE HOTEL'S WEBSITE! Due to the construction area, the 5 tram's route has been completely modified and does NOT stop at Lipanska. Maybe it will again in the future. Much smarter to take the subway (the red line is available at both train stations and then switch to the green line at Muzeum) to Flora and walk down the hill (about 10 min walk). The 9 tram also stops close to the hotel (about a 5 - 10 min walk) but I don't recall the name of the stop.
Considering the 44 EUR/night price for a double room in Prague in high tourist season, the hotel is a very good value though if you sleep with the windows open and face the street, it can be noisy due to the construction (probably explaining the unusually cheap rate). I asked for a room with two twin beds since I was meeting a friend and we actually got a spacious suite with two rooms, a bathroom, and little kitchen. It felt clean although some of the furniture could use slipcovers, the towels aren't soft or replaced daily, the safe wasn't especially safe looking, and the shower head could have been replaced. But considering the price per person was the same as it would have been at a youth hostel in a room full of strangers, this was a great bargain. The breakfast was more than sufficient with rolls, bread, danishes, a choice of cereals, yogurt, cheese and meat, jam, and coffee and tea. If you don't mind sacrificing style and fluffy towels or staying across the street from a sex shop (it wasn't threatening in any way) and not in the exact middle of town, this is a good choice.