The Hollywood Hotel The Hotel Hollywood Near Universal Studios Los Angeles is also known as the Hollywood Hotel. This budget hotel is located close to the Hollywood Hills and the Hollywood Sign and the magnificent city views from Griffith Observatory. Nearby Universal Citywalk has dining, shopping and entertainment options galore. Film lovers will delight in the Walk of Fame and a tour of Paramount Studios.For guests wanting to tour or do business in Hollywood, The Hollywood Hotel The Hotel Hollywood Near Universal Studios provides comfortable, wallet-friendly accommodations in a centralized location. The hotel also has a pool surrounded by lush greenery and a fitness centre. There is a subway station very close, allowing guests to easily see downtown sights such as Disney Concert Hall.