We stayed there in April with 2 kids. We originally were looking for something a little more off center, but this seemed like a good family compromise in L.A. It turned out to be great. The kids loved the pool. We were able to go to Jimmy Kimmel and the Parking lot, we drove around the hills and mulholland, we had dinner a few times on franklin & tamarind which is where you should go have dinner (rather the Highland & vine area), went to little tokyo and the fashion district, and met some hip hop stars in the hotel elevator, and shop at the H&V mall, and did Topanga Canyon/Malibu. Your mileage may vary.
The rooms were great, for 2 adults, 2 kids (10th floor). We did not eat at all in the hotel. We used the $42 a day valet parking. The valets were great, it is definitely not a cheap parking option, and you probably can find better (starting with the $15 a day at the mall, w/o in&out privileges). Of course, this is a not a boutique hotel, but it worked.
The only actual downside is that , if you are looking for a easy access to the ocean, this clearly is not it, e.g. it's a great access for downtown LA/Hills/Hollywood, but anything west of 405 will take you 1 1/2 hour to get to.