Is there a place to stay in Prague preferably in Old Town
that has the same reputation that Arcadia Residence has?(Unfortunately they are booked?)
I've stayed at the Cerna Liska. It is right off the square in the Old Town. Some rooms have views of Tyn Church.
Not fancy but very good service, good sized rooms, very clean and fantastic location.
Have you looked into getting an apt? We had a 2br apt, remodeled and fully furnished with wood floors and flat screen lcd tv for about 30E/pp/day. You may want to check into that. We had a kitchen and had a small grocery store downstairs with a full grocery a block in either direction.
You didn't mention your budget but a fantastic boutique hotel in Prague is the Golden Well. www.goldenwell.cz
Best service we've ever had at any hotel in Europe.
It's just over the Charles Bridge on the castle side, an easy 15-minute walk to the old town.
I just booked for a week in the summer at Cerny Slon (the black elephant) directly adjacent to Tyn Church (half a block off from old town square). The price was 70 euro per night and the pics looked great. I haven't set foot there but I used to live in prague and the location is ridiculous for the price. I looked them up on tripadvisor and the reviews were nearly all positive with rave reviews.
best of luck to you - I hope I can report a positive review of my own after my trip this summer. hope this helps but as I said I don't have first hand info as of yet.
this is the website:
http://www.hotelcernyslon.cz/
Few years ago we stayed at Bethlem Club. Very stylish and antique. You can google it.