Originally opened as a hostelry exclusive to women, the hotel underwent a transformation into a Moroccan-themed space in the 1970s before being restored to its initial Spanish Colonial architecture in 2014.

Founded in 1926 by the YWCA, the hotel was established to provide a haven for professional women, allowing them to lodge without the requirement of a male escort.

[14] The renovations were done by Santa Monica-based agency Studio Collective with help from Rockefeller Kempel Architects, who expanded the guestrooms and modernized the interior.

[19] Noble 33 argued that the existence of a union within their restaurants would breach the hotel's current agreements and would harm both parties.

However, the hotel denied the claim that the decision to terminate staff was influenced by its management, stating that the group would not have been requested nor authorized to do so.

[23] They have been painted by the company Walldogs, who have worked with the hotel since 1994 and have done advertisements campaigns for Bethesda Softworks, Square Enix, and DICE.

[31] Upon the completion of its 2018 renovation, the hotel was characterized by the Los Angeles Times as exuding a "cozy, warm, and welcoming vibe," featuring numerous artworks by women displayed in the lobby and guestrooms.

[32] The interior design team restored the windows and refurbished and skylights for nighttime illumination in the guestrooms, focusing on giving the guest rooms with the more comfortable beds and enhancing the bathrooms with artwork.

Multiple local female artists have been featured in the hotel's art program, including Alison Van Pelt, Lily Stockman, Jesse Mockrin, Nancy Baker Cahill, and Alexandra Grant.

[30][38] The New York Times wrote that "upscale boutique hotels are all about attention to detail, which seems to be a work in progress at the Figueroa".

[39] Business Insider wrote in 2020 that "when it comes to historic significance and flair, the Figueroa is tops in downtown Los Angeles", stating that the "highly walkable location adds major convenience points with an address across the street from the buzzing L.A. Live entertainment complex, and the Los Angeles Convention Center and Staples Center just yards further".

[42][43] The hotel served as a filming location for the television series True Blood and for the music video of Prince's 2004 song "A Million Days.