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If you're up for a weekend of opulence or prepared to "rough it" in a hostel, then you should have no problems, as long as you've booked your room far in advance. The mid-range options are still a bit murky. You may find you're paying much more than you'd expect for average service and a smattering of amenities.
Part of the problem is supply and demand. Prague has become very, very popular in a relatively short period of time. During high season, the crowds ogling the Astronomical Clock are, in themselves, a sight to behold.
The situation is improving. New places pop up often. And if you can make do with modern surroundings, sleeping in Nové Město, the city's modern center, can save you quite a few koruny while still offering proximity to the sights.
Prague hotels are very specific and detailed about their pricing calendars. High season generally extends from mid March through the end of October. Low season covers the rest of the year, although some places pepper low-season windows throughout late June and August when temperatures are at their highest.
Expect to pay at least €110 per night during high season for a decent double in Malá Strana or Staré Město. €80 will get you decent amenities and fine service in modern Nové Město hotel. If you're willing to share a hall toilet, then a barebones private room for two in a prime neighborhood will cost between €40 and €50. A double at a basic though charming guesthouse will cost you between €60 and €80, depending on location.
Watch out for holidays. Prices really spike during the weeks surrounding New Year's Day, Easter, and several other European holidays in spring. Christmas marks an exception: rates generally stay low until December 27th or 28th. We've listed holiday prices separately whenever possible.
Thankfully, breakfast tends to be included in room rates, though what that includes is greatly variable.
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