Bottom line: we would definitely be happy to stay at Riad Louaya again.
You need to be aware of what you're buying into when you choose to stay at a riad, which is to say that you shouldn't expect 5-star hotel luxuries and sterile, ordered perfection. What makes Louaya charming is the slight roughness around the edges. That said, the location is wonderful: well within walking distance of all the main attractions. The staff couldn't be friendlier and more attentive. The decor of the rooms is charming and romantic. The breakfast is excellent. The evening meal - which we had once - was very good. The terrace is perfect for catching the sun. And the whole place just has a relaxed, welcoming, family-run feel.
Two things to bear in mind.
As this is an old-style riad, privacy in the rooms (as regards sound-proofing) is not amazing. However, there is minimal noise from the outside world.
Lighting in our room was a touch on the dim side.
However, overall, we throughly enjoyed our stay here and were sorry to leave.