We spent this Christmas with good friends who live in the Laubegast neighborhood of Dresden, so our choice of hotel on this trip (the Prinz Eugen) was dictated more by location than by quality. If you are looking for a 5-star hotel with restaurant, room service and someone manning the desk 24 hours a day, then you'd be better off to get a hotel in the heart of the city. The Prinz Eugen is simply a quiet neighborhood hotel, with good German quality, and basic functonality. This is a great hotel to stay in if you want a comfortable, quiet and clean hotel but don't want to spend a lot of money on all the "extras" like a gym, room service, bed turn-down, etc.
The hotel is located in a quiet residential neighborhood filled with many fine restored old homes. It is within 5-minutes walking distance to the Elbe River and at the end of the #6 streetcar line which takes you into the center of town in just 20 minutes. For just 7.5 Euros you can purchase a 24-hour tram / bus pass for 2 people to explore the entire city of Dresden on. If you explore a lot, this is a good bargain.
It is a good little hotel of average but acceptable quality. The rooms are large and clean and well maintained. Ours (#309) came with a small functional kitchenette and an open "minibar" kept stocked with a few bottles of beer, water and sodas. The small fridge DID make abundant ice cubes though which was a nice little pleasure. The room was outfitted with functional yet plain pine and wicker furniture. The couch in our room was comfortable to lie on, but the cushions had a tendency to slide off. The room had a nice flatscreen TV. The bathroom was a bit tight, and the fixtures were functional, and it had a nice hot-water wall-mounted radiator that was excellet for warming towels and drying socks & underwear. The windows had roll-down shutters and looked out over the courtyards and small city gardens spread out between the small apartment buildings behind the hotel. We liked this view. Although there is no view of the Elbe River from the hotel, it was still pleasant. The hotel breakfasts were excellent; with good quality, abundant quantity and good service. They are worth the extra price. The hotel has no restaurant, so meals must be found locally in the neighborhood (personally I did not look for any, so I cannot make any recommendations).