This hotel is next to the ADEL subway station. It takes 15-20 mins by subway to different main sight seeing spots (old town, new town, Prague palace)
Also if you want to visit Cesky Krumlov, the hotel is next to the bus station (Student Agency bus to Cesky Krumlov departs from this station)
The shopping mall Novy Smichov is approx. 15 mins walk from the hotel.
The room is clean and tidy. Only downside is at night, it's a bit dark outside, so may need to be careful. Overall, with this price I think it's a good deal.