Had a great stay in Hotel Pankrac. Metro station is a 5-minute walk away, tram (and night bus) stops in front of hotel. The hotel is a typical 3-star hotel, the room was ok, breakfast was ok, if you just need the hotel for a place to sleep then this is what you are looking for. The staff were nice and helpful. You can reach the city centre within 15 minutes. It can also be an advantage that 200 metres from the hotel you can find a shopping centre (with big Interspar) and also a Tesco Express that are opened until late. The location is not the nicest but it is OK, so I would recommend the Hotel Pankrac for a city visit.
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