LOS ANGELES—The L.A. Hotel Downtown, owned by China-based Shenzhen New World Group, will change over to a Hyatt-brand hotel by spring.

The 491-room hotel at 333 South Figueroa will be reflagged as the Hyatt Regency Los Angeles Downtown. The owners are now involved in a $20 million renovation, as well as service upgrades to each of the 419 guestrooms and 72 suites, public spaces and corridors, meeting and event areas, business and fitness centers, concierge lounge, restaurants and lobby. The hotel will receive exquisite new design upgrades as well as new floor plans for its more than 22,000 square feet of meeting and event space, which includes 17 versatile meeting rooms, two ballrooms, including 4,000 square feet of pre-function space.

"We are thrilled to become part of the family of Hyatt Regency-branded hotels and to be part of Hyatt's global network of premier lodging destinations," said Regina Stryker, general manager of the hotel, in a statement. "This is a very exciting time for the hotel and our associates, and we look forward to proudly flying the Hyatt Regency flag marking a new era that we welcome with open arms."