Overall this hotel is a great choice with luxurious facilities, friendly staff and of the international standard you would expect from the Sheraton brand. It's location is central enough to be close to everything but far enough away from the hustle and bustle that you are assured of a quiet night's rest.
The hotel is centrally located in Prague, just by Karlovo Namesti and a mere 5 minutes walk from Wenceslas Square. The Old Town Square and also Charles Bridge are both about 15 minutes walk.