We stayed at the Hotel Sieber for three nights. The only thing that I have to say bad about it is the breakfast. Most of it was a old and dry buffet that they charged about 20 euro for. Needless to say we only eat there once. The hotel itself is very elegant and very clean. The staff is very helpfull with any request that we had. As far as the location is concerned, it is about 10 by metro to Wenceslas Square were just about everything else is walking distance or you can walk there in about 20 minutes.
The rooms are very large, and the decor is perfect. The location is ideal.