We stayed here for a short break before Christmas, and weren't disappointed. The Riad is owned and run by two French guys, Noel and Fabrice. They also have a small team of people to help during the day with breakfast, and cleaning the rooms.
It's small (5-6 rooms) but that's a Riad. It's decorated in a gorgeous contemporary Moroccan style, with a cosy snug with an open fire on the ground floor. The central courtyard is open to the elements, and as this was winter, they put an awning over the roof. That said we had breakfast most mornings on the roof terrace, which afforded incredible views across the Medina out toward the Atlas Mountains.
Noel couldn't have been more helpful with suggestions of places to go, and arranging our taxis to-and-from the airport. Despite being very near the chaos of the Jemaa el-Fnaa Square, it was very quiet once in the Riad. A pot of mint tea was always rustled-up whenever we came in after a dusty day pounding the souks and dodging mopeds (!).
Lovely food, lovely people, lovely atmosphere. For 67 Euros a night, it couldn't be faulted.