I got my reservation through an online pick-your-price site. The price I was offered was what you might pay for a discount hotel chain. They accepted my offer for a one-night, two room stay for four people. This was a Tuesday night in early December.
They do charge $23 a day for valet parking on top of that. There are cheaper parking options nearby. I was a little scared when I found out that it was the Roosevelt Hollywood Hotel. The last time we were in Hollywood (10 years ago) it looked like a dump. It has gone through a renovation and I was fairly impressed. The staff was very friendly and even got us some tickets to the Jimmy Kimmel live show only a few doors down.(We later found out that they give them away to anyone walking down Hollywood Blvd, so save your tip money)
As for the location, you can't beat it. We were within walking distance of many restaurants and all the major TV studios and attractions were close by. The rooms are decorated very dark but appeared to be clean. The bathrooms are small, but functional. The bed was comfortable and clean. I had an honor bar that was fully stocked, but save your money and do not touch it, I will explain later. The room also had a TV, a CD radio stereo desk with lamp, and newer windows.
My only complaint about our whole hotel experience was the price of their drinks. After the Jimmy Kimmel show we went out for dinner then ended up at the hotel lounge later for a night cap. We ordered three Baileys over the rocks and a coke. The tab? $42 . Save your money and go to the Snow White Cafe across the street and east down aways from Grummans Chinese theatre. Happy Hour weekdays are 4-7 and they offer imported or domestic 37 oz beers in a frosty mug for $7.00. There are some shady characters (locals) around but there were four of us, so I didn't feel unsafe. I wouldn't walk Hollywood Blvd alone and I would avoid east Hollywood Blvd. The further east you walk, the worst it gets. There were police in the area.
As for the hotel lounge, there is a dress code, so do not expect to get in if you are not dressed better than casual. I guess that's why they charge $42 for four drinks!