We were driven to the Alchymist Hotel in the hotel's Rolls Royce (the Jeep was being serviced) by an extremely polite driver. As soon as we approached the hotel, I knew this was the right hotel for me - small, beautiful, oozing old-world charm. The receptionist was thorough and professional. We were accompanied to our junior suite by a staff member who patiently explained what we needed to know about the hotel and the room. (I can't understand how a previous reviewer failed to find the other, quite sizeable elevator !)
As has been mentioned, the location is superb - close enough to walk to everything but far enough to avoid the noise of the more touristy Old Town. You can catch the tram just a short walk away if you want to get to other locations or to the train station.
Breakfast is adequate, but the 5PM Happy Hour does not live up to its name. You can certainly taste all the wine you want, but the teeny-weeny hors d'oeuvres were a disappointment.
There was only one hand-towel for the two of us, but another was sent up shortly after we notified reception. Unfortunately, we had the same problem each day. Whoever chose the bathroom equipment must have done so based purely on esthetics, but he/she should have tried things out before purchasing. The sink is big, but considering all the space around it, why not choose something with a counter? There is nowhere to store cosmetics, toothbrush, etc. except on the sink itself, which is always wet because of the awful taps. The faucet is very high, so if you stand in front of it, you get splashed. The bathtub is large, with quite a high wall, but there is no hand-rail, which makes getting in and out a rather dangerous event. The bottom of the tub does not have an anti-slip coating or strips. I would have preferred a walk-in shower. There is a hand-held shower which, again, while esthetically pleasing, is in fact a flawed design. It is ceramic, rather heavy, and gets slippery in wet, soapy hands - so it becomes hard to hold.
The pool, as mentioned in other reviews, is too small for any exercise and the water should be a bit warmer. Saunas are separate for men and women, but the steam bath is unisex - however, you have to walk through the men's locker room to get to it, so be careful, girls!!
All in all, we were very happy in the Alchymist and would probably stay there again if we return to Prague.

Stayed for 2 nights in deluxe room with balcony overlooking a small courtyard. Loved the hotel, all the staff were friendly and helpful and the hotel is something different from the norm. The breakfast had lots of choice as well as an a la carte menu to choose from all incl. in the price. We ordered from that one morning and were very impressed.
The bedroom had 2 towelling bathrobes and slippers,bottle of water provided, internet access and DVD etc We loved sitting in the courtyard area and enjoying a drink, very relaxing. You could also have breakfast out there which was nice.
The hotel is ideally placed to walk everwhere, yet it is quiet and tucked out of the way. It was 30degrees c when we were there so we were pleased to have the airconditioning in the bedroom.
Loved Prague and would go back again, easy to get about and everyting reasonably priced.
If you want something different choose The Alchymist, this style would not normally be my taste but I loved it as it was done well and not tacky. Great for couples rather than the large bland hotels you can often see.

Loved the Alchymist Hotel. The location is far enough away from the main square but still within easy reach to walk of bars, restaurants and shops. Staff were great and rooms were generous - very lush!
Would definately go back again.

The Alchymist Grand Hotel and Spa is a very nice small hotel in the heart of Prague. The location is perfect, close to the castle and also walking distance from the old city and it seems to be a very nice and safe neighbourhood. The hotel is small and so the service is very good and personalized. The forniture is very baroque style and so it could appear a little bit to heavy, but still very nice and confortable. We stayed in the terrace suite which is a very nice room with original painted ceiling a a big bathroom. The terrace itself is pretty ugly and not well kept, so it's not worthy at all, while the room is perfect. We also went to the spa, which is really very nice and clean, the only bad thing is that the pool is very very small so you can't really swimm in it, but it's good to relax. The people at the reception were very nice and they all spoke perfect English and they were very helpfull also, ready to give us all the infos we might have needed.
Just 1 down point as far as the service is concerned: when we check-in we found a complimentary bottle of water in the room, when we finished it we throght it in the trash, but the made just picked it up from the trash and replaced it empty on the table along with clean glasses. When we pointed this out, the guy at the reception seemed to be pretty embarassed and offered a fresh bottle of water. Cosidering the price of the room I think it would be a good idea to offer a complimentary bottle of water everyday.
Anyways, I think this is a nice hotel and I would suggest it to everybody