The Eurostars David is magnificently located, close to the Moldau river and next door to the famous Dancing Houses by the architects Gehry and Milunic. It is set in the new city, a mere five minutes from the access to the old part of Prague. The major tourist attractions of Prague are easily accessible on foot: Wenceslas Square, the Charles Bridge, the old plaza, the National theatre (a mere 2 minutes from the hotel), the National Museum, the Jewish Quarter of Josefov, the house of the Black Virgin, the Spanish Synagogue and many others. In the vicinity, there are numerous restaurants, cafeterias, shopping areas and jazz clubs, concerts and black light theatres.
Being so close to the river, it is also worthwhile having a wander along the Moldau river left bank where, 10 minutes from the hotel one of the most debatable, famous monuments can be visited: the monument to the Red Army, a soviet tank painted pink several times by Czech artists and activists.
More info in this link.