Stayed 4 nights here recently and can generally confirm the previous reviews and comments. Not much to add to what has been said. Some pictures for those interested.
Booked an exec room as I knew this hotel was stingy on upgrades from previous reviews. Cash booking with some points used to reduce the overall cost. Told no upgrade at check-in (surprise!) and given a single drink voucher as compensation.

(which says any drink but can only be used for a small beer, wine or soft drink). Expect no upgrades here it seems.
Hotel was great for location and for quality of the room and any area I visited, very nicely done. I'd stay again. Room was small (and that was the exec room so bigger than some!) but completely fine for a short stay and only one or two people. Storage was an issue as mentioned in a previous review as no drawers so unless you can hang items you will be hard pressed to figure out where to put items.
Bathroom was small but nicely done. Pressure of the water and the temperature of the water were only okay, not hot as I'd like it and not nearly as powerful as I'd want but it was okay.
Liked the bath amenities, felt and smelled good. Received a turn down service each night with a card showing the weather for the next day and a small praline on the bedside table. ^
Mini-bar was not free for me as a gold. I did have two 500 ml bottles of still water provided free in the room. Nice coffee machine in the exec rooms.
I liked the fact that there was a plug in by each side of the bed and the adjustable beside spot lights. You could get the room very dark with the curtains and I heard no noise (but was facing the side street and had an inner facing courtyard room so wouldn't expect any noise.
I ate breakfast each day in the hotel and it was good, not great but did the job. Plenty of space to sit and friendly staff to help out but a bit haphazard as more than once I was given a table and asked what I would like to drink for a hot drink and then went to get some food and every time I'd come back to find my seat taken by someone else, no coffee delivered when I did find a seat and so I can only recommend bringing something to indicate you are still there (a book, jacket or such) so that no one else takes your seat and that your drinks or anything you have just brought back to the table isn't cleaned up before you return! The hot items were a bit missing in my view but the continental items were excellent in both variety and in quality. The coffee machine is fine for regular coffee but for speciality coffees better to give it a miss and go elsewhere later to get a good milk variant coffee in my view.
I visited the bar most nights before heading out and ate in there twice. The staff was great and I liked the small bar space as it was looking out to the street but felt intimate so quite pleasant. The beer was good and the prices reasonable for a hotel and main city like Prague. I ate a club sandwich one night and that was very tasty and I can recommend it if you arrive late or simply want some quick comfort food, it comes with chips (french fries). I ate a cheese burger another night as I had a long day and simply couldn't be bothered to go out and that was terrible. I didn't finish it in fact and mentioned it to the staff who apologised. The burger patty was bulk purchased and although big, it was tasteless and the amount of fat that dripped off of it was incredible. A shame really. I did note that some other UK guests were able to order a meal from the main restaurant menu and have it delivered to the bar if you wanted to do that. The bar seemed to be boom or bust in terms of how busy it was, depending on the times you went. Pictures of the bar and two meals included below.
Check in was very good with a friendly staff member and no queue and they get the operations manager to come out and greet you personally as an Accor member. (a nice touch). Check out was completely the opposite with a long queue (just bad timing on my part as an aircrew had arrived to check in as well as a few guests checking out around 10:30) Of course, only one person doing the checking out and three people watching...finally after about 10 minutes the concierge started to help and that improved things a bit. You get a fridge magnet as a memento upon check out.
There was a little welcome amenity in the room and a card welcoming me to the hotel.
I used public transport to get to the hotel and get around during my stay and found that brilliant. The airport express bus service (less than GBP 2 each way) was a bargain and very efficient. I walked from where it drops one off at the train station to the hotel and that was only about 10 minutes walk (1 Km distance each way). The 72 hour card was also a bargain at GBP 11 for 72 hours of unlimited use of all buses, trams and such...(not the airport express though). As others have noted in notes on visiting Prague, just don't forget to stamp your ticket upon first use to validate it or you'll get a fine. There were stops for the tram and buses just down the road from the hotel in both directions so very convenient. Old town main tourist attactions such as the astronomical clock and Charles bridge are only about 15 minutes away by foot (around 1 Km) and there were plenty of restaurants and shopping venues in the immediate vicinity for those wondering as mentioned up the thread.
So finally, some pictures for those that find them of use!
Floor plan
View into room
View back to entrance
King bed
Night table, plug in and reading lamp
wardrobe, safe, etc...
welcome amenity
vanity area
shower area
bath amenities
free water
Nice coffee machine in exec room
Blue area is exec rooms area
general hallway area
Hedgehog bar from back of bar seating area
Hedgehog bar from street window towards back
club sandwich from bar menu
Cheeseburger that was not to be recommended
Part of the breakfast area (ground floor), to the left is the buffet area and a conservatory glassed seating area as well