The Hotel UNIC Prague. now the INNSIDE by Melia at Soukenicka 25: This is a 90 room boutique hotel with very nice, colorful, contemporary rooms and beautifully designed restaurant/bar and lobby. Thanks to Jetsetter.com for the great find. Their restaurant, Aliter, is where the buffet breakfast is served as is lunch and dinner. They offer a mix of superior double, deluxe double, junior suites and deluxe suites. It is just outside the old town and walking distance to the historic sites and great restaurants cafes. Several are within a few blocks. With so many tourists in town, it was a great spot to get away from all of the crowds.
Others getting good reviews are the Hotel Josef, Emblem Hotel, The Augustine and the One Room Hotel. Friends just stayed at the Grand Hotel Bohemia and really enjoyed it. The Art Deco Imperial Hotel is highly recommended as a beautiful property.
Other friends just stayed at the Unitas Hotel and really enjoyed it. It is located in the old town in a former convent.