I went 3 times to the Riad Al Karama. It's about 10mn walk from the main Jamel-Fnaa place, but amazingly quiet (small street). Most rooms have airconditioning, there is a nice tea to welcome you, the team is always smiling and happy to give you insights about what to where to go.
The owners are exceptional people who made me feel like I was home. They can literally organize anything you want, from car rental, treks, transport, to spas etc... I tried a few different places in Marrakech and this was by far the best experience. I sooo liked the breakfast - and they have an amazing occupant on the terrasse, called Josephine. Ask about her!