We loved Miss Sophie's Hotel and Sophie's Hostel near Wenceslas Square and near Pavolova metro stop. We've used their airport transportation service too. We walked or took tram to Old Town Square and found lots of great restaurants near the hostel and hotel. I've stayed at both. The guests of the hotel (it's a mall boutique hotel across the street from the hostel) have access to the amazing and affordable breakfast at the hostel; the quiet, casual bar area at the hostel where you can enjoy happy hour, drinks, games, snacks, meeting folks, etc. And, the front desk has English speaking staff who are so helpful with recommendations, buying metro tickets, etc. The free walking tour that meets there every morning is really good! I've been going there for years and never have been disappointed with the hotel or hostel.