Hilton PRG
The Hilton is pretty decent. It had a better liquor selection than the Cavalieri, but service wasn't better, and I liked the breakfast much more in Rome. The lounge is smoking in the evening, or I should say 1/2 of it is smoking, but quickly gets unbearable even if you're in the nonsmoking section.
The construction noise during the day got a bit annoying. As a diamond I got the exec floor, a plate of fruit and a bottle of sparkling wine. It looked like a normal King room, so nothing special room-wise.
I spent a bit over two weeks in PRG, and found it to be a nice city to relax in. The public transportation system is great, non-touristy places are affordable to eat at (mostly in the $5-$10 range excluding liquor). You can go to the opera house and see a nice performance from $2-$60.
I can't say that I like Wencelas Square too much. Too many hawkers, expensive restaurants and junk merchandise.