The Alchymist is a beautiful hotel in a perfect location. Our room was generous in size and comfort (although certainly big enough to merit a king-size bed rather than queen). The staff was all polite and helpful.
However, beauty isn't all. The Alchymist falls just short of being the luxury hotel we thought we had paid for. For the price of this hotel, we expected to be pampered a bit more. Surely the management could find softer toilet paper and tissues! When I stay at high-end hotels, I want to have at least as much comfort as I have at home. The tissues actually hurt my eyelids when removing makeup! The toilet paper was like scratchy old air-mail paper.

The second issue was with the air-conditioner. To begin with, it was noisy. The first night, we thought we were hearing the sound of other guests taking showers, but it was actually the air conditioner and the noise went on through the night. When the maid comes to clean up the room, she turns off the main switch, so that when we came back after a hot day of walking all over town, the room was unbearable. As the room was large and the air-conditioner small, it took quite some time to get it to an acceptable temperature. Our only choice was to leave the "do not disturb" sign on the door all day and sacrifice getting the bed made in favour of having the room at a comfortable temperature.

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.