We've just left the Riad l'etoile d'Oreint and it was a wonderful stay, right in the heart of Old town Marrakech. Our room, the Fedka, was much bigger than it looks on the pictures, space at least for another bed in the room if you'd wanted, plus a great ensuite area. The entire Riad looks and indeed is, much newer than most Riads, and in that sense is comparable with the most modern hotels around, but still has the charm of the local area. We had a discounted winter price, but for the quality of the room, even the full price would have been excellent value.
There are permanently staff on hand to open the door, and you have the key to your room as well, so there are no worries about safety. The staff were wonderful, and very attentive, but otherwiase you woudlnt know they were there, it felt like being at home.
Getting to the Riad is a bit of fun - it is about 400 m down a narrow road through the souks, then through a small doorway into another alleyway - hard to find at first, especially if you're dumped somewhere nearby in a taxi - but once you've found it, no problem at all getting to and from the main square. The free wifi even works in the rooms and was good enough quality for me to watch the football online !
If you're even considering this place, you'll know about the location, and the noise of the crowds goes on till late, but in the end its quite peaceful and you soon get to sleep. The Riad serves drinks which you can take to the roof garden if you want - this is also where the breakfast and jacuzzi are, though we didnt try them at the same time. Breakfast is a little sparse, but if you're here for the experience, then this is the perfect place to stay, a peaceful oasis in the middle of the mayhem of Marrakech