Stayed over the 4th of July weekend for three nights as follows:
CHECK-IN: HHonors Gold status acknowledged with a thank you. My reservation was specifically for two beds but they somehow thought I had requested a king bed room (probably because that's my default in my profile?). In any case the agent found the last two bed room in the hotel but apologized profusely saying it was on the first floor in the front of the hotel (i.e. noisy). Continental breakfast coupons presented. I asked about an executive lounge and was told the hotel was too small to have one.
ROOM (103): Yep, right in front although the first floor is really the floor above the mezzanine so we weren't at ground level. Room 103 is on the corner facing Grand looking towards 5th Street up the hill. Flat screen 42" TV set, a granite top work desk, decent sized bathroom. Kind of a squeeze between one of the beds and the desk chair when the chair is in front of the desk. Street noise is certainly noticable but it didn't bother us other than the skateboarders shredding outside the window next to the hotel at 11pm. It is noisy downtown with emergency vehicle sirens going off periodically. If noise bothers you bring earplugs or get a high room in the back of the hotel.
LOCATION: Walking distance to both the Red and Blue line subway stations. We came in to downtown LA via train; taxi from Union Station to the hotel was $11 with tip during rush hour, $9 with tip with no traffic on the return. We could have taken the Metro red line from Union Station to the Pershing Square station and walked 3 blocks with the suitcases for $3 (for two people) but it was hot and we were lazy. The hotel is also close to the jewelery and fashion district. Wide variety of places to eat nearby - we walked over to Mortons for dinner on Friday and Saturday ended up at a dive taqueria (but it had an "A" rating from the LA county health dept and the tacos were great!). Some people don't care for downtown LA - it is certainly grimey in places, and you wouldn't want to be out wandering around too far after dark, but I happen to like the cheap shopping and dining options.
FACILITIES: The rooftop view is nice and the pool, although small, is fun to use just because of the view. Continental breakfast is taken in the hotel restaurant and served to you by wait staff. You get a choice of a bread basket or bagel w/cream cheese, coffee, juice. Without the Gold coupon it is $12 per person. There are places nearby to eat if you don't want to eat at the hotel. I didn't try the lobby bar but it looked pleasant enough.
CHECK-OUT: The hotel somehow missed the special rate I was booked under (buy 2 nights get the 3rd night free - long expired, sorry) but the front desk crew got it straightened out without any hassle.
OVERALL: I likes the hotel location for a downtown LA stay and would probably stay again.