This is the heart of Prague,so choose a hotel within walking distance. There are many sidewalk restaurants, including the Hard Rock Cafe; tours start here; shopping, especially high-end stores and Czech crystal. You will find many street entertainers here and often music or food festivals. This is the quintessential European square with buildings of all architectural styles. There is hotel - U Prince Hotel- in the square with a beautiful rooftop restaurant - must see. It is a square surrounded by buildings full of history and beauty. We have not been able to enter the Thyn. It has numerous restaurants with comfortable terraces.
Large square with lots of people in motion with shops and restaurants. Hard to see when in Prague, however, avoid eating / drinking as it is extra expensive just around the square.