We were attracted by the consistently good reviews, and the prices seeming a little lower than equivalent hotels in the middle of the Old Town (Essence is south-east of the Powder Tower, so I guess it counts as Nové Město?). The reviews are fully deserved – it's a really lovely hotel.
It might not have the "kerb appeal" of some of the big-name Old Town hotels (pretty anonymous building, hemmed in by offices and shops) but they've made such good use of the space. Spotlessly clean, comfortable, tasteful decor (actual colour, not horrible 2010s century monochrome grey!) great breakfast, friendly service... ticks all boxes. Plus, you're 5 mins walk from the Old Town Square. I think we'll be back before long.