For a 4-day weekend in Prague, my wife and I booked a package including the Red Lion, and we had no real expectations. We found a charming small hotel in a building from the early 1600's (or earlier) that has been tastefully upgraded and modernized. The bathroom in particular was top modern. Located on a hill just below the castle heights, we felt priviliged. Took us only five minutes to the top, and if we walked down the hill, it was only about 10 minutes to the start of Karl's Bridge. So we found it easy to get to tourist spots on both sides of the river.