I really don't like giving 5/5 and rarely do because it is like saying that somewhere is already perfect and has no real need to change/improve... but I really do believe Riad Al Mamoune is there.
I'll start off by saying that in 3 weeks of travelling around Morocco this was by far the best place we stayed at. We had a fantastic time in Marrakesh but I honestly think that a LOT of it had to do with staying at Riad Al Mamoune. It makes a huge difference when you are in a great location, have a safe and welcoming place to come "home" every day and have great people running the place.
Riad Al Mamoune is in a superb location. You are never going to find a hotel that is close to absolutely everything in Marrakesh because the city is relatively spread out. But Riad Al Mamoune is close to many of the places you want to see on a regular basis - the souks and Jemaa El Fna. It sounds strange but even though it is right in the heart of the Souks, it feels peaceful and safe at all hours of the day/night and is easy to navigate to. You will really feel like you are "living" in Marrakesh and become at ease with the hustle and bustle of the markets - I know we did! You will also no doubt meet some genuinely friendly people in the markets nearby too.
The Riad itself is beautifully restored, peaceful and comfortable - you will want to take photos inside. Its great coming "home" after a long day exploring and being able to cool off in the small plunge pool in the courtyard.
We stayed in the ground floor Sultana Suite which I can't fault - plenty of room, comfortable bed, great bathroom (by Moroccan standards). Even though it was located right on the courtyard, it wasn't noisy and to be honest I think it was a big bonus as we used the courtyard like it was our own (and all rooms are located around the courtyard anyway - it would be rare to find a Riad or Dar that was not structured like this).
Breakfasts are the standard Moroccan fare of pancakes, bread, jams, coffee etc. which was good. The best part was the orange juice - not all places in Morocco actually fresh squeeze orange juice every morning! Breakfast is served on their terrace which is well set up and a tranquil place to relax.
Wifi was good - available in the room and everywhere else in the Riad.
BUT I think the best part of the whole Riad Al Mamoune experience was: HAMID (the host). He is truly an amazing person and the most professional, helpful, relaxed and kind person we met in Morocco on our 3 week holiday. Our first impression of him was when he came to meet us near Jemaa El Fna after we had just arrived in Marrakesh by bus - he showed us his ID without us asking (which was nice because sometimes people can try and take advantage of tourists). He showed us the best way to remember how to get to the Riad which was almost like having a "mini tour". He was available almost 24-7, always had something to talk about, answered our questions, helped me with my Arabic, gave advice and made us feel at home and happy. We both truly felt like we made a genuine friend and I know everyone else staying there at the time felt the same way as we did.
However everyone else working at Riad Al Mamoune was fantastic too - the housekeeper was always smiling and made up our room perfectly, did a load of our washing and amazingly had everything perfectly dry and folded in our room the same day. The owners Manu and his wife Patricia made us feel at home and prepared a very nice dinner one night. Manu was also good to talk with and I ended up staying up late one night chatting with him for hours about all kinds of things which was a nice memory to have.
Overall I can say that by choosing to stay at Riad Al Mamoune you are already half way to having one of the best holidays of your life Marrakesh.
It is great value for money considering the whole "package".