The hotel itself is quite inexpensive for Prague and the distance from the airport makes it somewhat convenient for overnight layovers (I was using it as such). However, it's off the main transit routes (not a big deal in Prague) so you'll have to take two buses to reach it. The transit desk at Prague airport was very helpful in this respect. Of course you could also take a taxi, but usually we put up with overnight layovers to save on ticket prices, right?
If you're without a car, make sure you change money and buy any snacks/drinks before you arrive. The restaurant only serves breakfast and this quiet residential neighborhood doesn't offer much in the way of stores or eating options (a couple restaurants within walking distance, but not easy to find).
As for the hotel itself, I should first note that it was under renovation after a new owner took over. Therefore, this may have had some impact on the experience. Overall, you could see that it was the cute "elegant" place that the other reviewers referred to, but it was also dark, vacant-feeling and with doors so flimsy that I was entertained for much of the evening by the conversations and other activities of the few other guests on my floor.
I don't demand too much of a hotel at this price, so I can say that I was willing to put up with these inconveniences and that I'm relatively satisfied. However, if you except a higher level of comfort/convenience, look into a Campanile or perhaps Ibis.