check out www.hihostels.com

It depends on what you're expecting. I've stayed in a hostel, the A&O Hostel. It is a good and cheap one, although not in the downtown. You can get there fast by subway, though.

I traveled to Prague in 2008 and stayed at APARTHOTEL CITY which is located at 5 VLTAVSKA 11 PRAHA 5 - SMICHOV www.appartamento.cz. It's with in walking distance to the Prague Castle and the charles street bridge. all you do is follow the river. The Owners are Kristina and Gastone, Kristina is a funny go lucky person they can also arrange for pickup from the main Prague Rail station as the Taxi drivers can be over powering for people who are visiting Prague for the first time. Pick pockets are running rife in Prague and there are warnings every where about it. if you catch a taxi insist that they use the meter, if they don't, move to the next one who will. As the Hotel name says, it's an apartment, breakfast you have to pay for and other meals you have to go looking for your self. I booked the hotel through Venere, just do a search for date and location.

Hostel Elf - near the center, great place, i always meet there great people.

I recommend "Penzion Zderaz", family-run pension, close to the city center, subway and quite cheap as well.

The bridge, its listed as a hostel but it is really a comfortable hotel in reality compared with the usual hostels in Europe. Its cheap, very clean, the staff is friendly and is near the tram, metro and the center (5 min walk along the river). I really liked my time there.

Try to write in www.google.cz "ubytovani praha" or "ubytovna praha" or if you are interested in dormitories "kolej praha". Cheap is levne, try to add that word also. While chosing your accomodation notice the addres - Praha 1 is city centre.

I rented an apartment that was incredible. I got it for just one night and it was cheaper than a hotel. I can't remember who I rented through, but I found them online and they were great. I would definitely recommend renting an apartment!

Intercontinental hotel, by the river, close to sights and to the city centre. The greatest breakfast

I can recommend the Crowne Plaza. Great service, good views, walking distance from all the places you'll want see.

Student hostel on the hill very close to the small Eiffel tower; quite close to the castle. in 2007 it was 7 euros/person/night, cheap, right?

Agreed with the couchsurfing.com. Its great!!! When I was in Prague we didn't CS there are some camping sites in peoples back yards, Great time.!!!

I suggest you rent an apartment to get a better flavor of the city.

http://www.voytaresidence.com/ situated in Prague 1 within walking distance from almost all major attractions

stay at JOSEFs or MAXIMILIAN

I stayed at the Park Inn Prague. It's a really good hotel and i'ts not even that expensive. http://www.prague.parkinn.cz/

I would recommend a hostel. Prague has Loads of really nice ones. Their pretty cheap too and they usually have really cool underground bars

Hilton Prague The decor of cloud nine rooftop bar is only matched by the interesting things you find as part of mini-bar. Great pool as well

Hotel Mars :) it was ok :)

K+K Hotel Central, it's a 4 star hotel in the center. The hotel is really beautiful and the breakfast is excellent!

I would suggest Couchsurfing.com It's an amazing network!