We stayed at Real Palacio for 8 nights in September 2013. The hotel is less than 5 minutes walk from El Cortes Ingles department store, the San Sebastiao metro station with direct metro to the airport and Lisbon centre. We had a very comfortable room overlooking a quiet street. Make sure you get a breakfast included deal. The buffet breakfast is very good but the room can get very crowded and occasionally you have to queue for a table. There is a happy hour in the bar early evening. We didn't use the hotel restaurant because there are so many great restaurants in Lisbon with an excellent Thai (Siam Square) restaurant and the Potuguese (Sessenta) restaurant across from the hotel. The hotel is about a 20 minute walk downhill through Edward II Park but better to get the metro back up because it's a steep climb. The lift in the hotel has a mind of its own you have to use your room card to operate the lift and we rarely arrived at our selected floor first attempt, so used the stairs after a couple of days. There is free Wi-Fi in the reception area and free cabled broadband in all bedrooms. Tip: take a cheap wireless router (eg TP-Link £20) and get Wi-Fi in your room. Not sure if the hotel warrants 5 stars but we had a very pleasant stay and would probably stay there again.
