In the cellar of the hotel of the same name (with good soundproofing, obviously), this is one of Old Town's top venues for local talents. It's a dark space, with modern decor and a few decent wines at the back bar. The Old Lady forms a club in more ways than one, with players and audiences well known to each other. This can be good and bad: a bit more competitive pressure might improve some of the more self-indulgent acts that take to the stage. But it's all in good fun.