I went to Nürnberg mainly for the Christkindlesmarkt (Christmas market), so the distances from the hotel to the markets were very important. I walked 3 minutes from Hotel Five to Markt der Partnerstädte (market of the sister cities?) at Rathausplatz, and it took me 5 minutes from the hotel to the Christmas market at Hauptmarkt. Also, you can go to the cinema CINECITTA' Multiplexkino within 8 minutes. The hotel is located close to the centre of Nürnberg so you can easily go to different tourist spots in the city. If you would like to travel frequently by U-bahn there are other choices, but in my case it doesn't matter.
The room is very clean and comfortable. The size of the room is more than enough for two people, and there are some bigger rooms. All basic stuff are included so you just need to bring your tooth brush and toothpaste. Unlike other hotels, the drinks in the fridge are quite cheap. The speed of the wifi is fairly fast and you can smoothly play YouTube clips and have video meetings, but you need to wait for a while if you want to play a HD movie.
The stuff are very friendly and all reasonable requests are addressed. The breakfast is included and there are many choices, and you can have your breakfast before 10am. The waitresses are nice and they even play with your kids.
I highly recommend this hotel for you, and it is probably the best choice if you want to walk through the whole city and have fun in the Christmas markets.