Rundown is the last word I would use to describe the Roosevelt. It reeks of class and gorgeous architecture. I think sometimes people confuse historical with old. That building has been there for decades after all. During the festival it's just festival goers. Many areas are off limits without a pass so I wouldn't worry about the teenagers. However the discussion may be moot at this point because it is likely sold out by now. I've heard great things about the Loews. It's literally steps from Chinese multiplex 6 and right near the Roosevelt. It's very convenient being right on Hollywood blvd. It just lacks the history and old time glamour of the Roosevelt but u can't go wrong staying there. Also celebrity and liberty are about a block away and slightly cheaper but you don't want to be walking alone in Hollywood at 1 am by yourself trying to get to your hotel, that's the only thing. Whatever you choose you will have a blast!!