The hostel Papillon has an excellent location directly in the city center of Prague. Near all major tourist attractions (Old Town Square, Charles Bridge Saint Vitus Cathedral, Prague Castle, National Theatre, National Museum, Wenceslas Square, Bethlehem Chapel).
Accommodation in clean spacious dorms, WC and showers are on the floor.  The prices are from 15 Euro per person per night. The prices are without the breakfast. The hostel has also apartments (you have own WC, shower), the price in the apartments is from 25 Euros per person per night without the breakfast.