It is convenient. At the time of my booking the Hilton was at least $75 more a night, no matter where I looked for rates. I thought I got a good deal at the Sheraton to begin with; so, another $75 a night was too rich for my blood. Neither hotel gives you express line privileges like Orlando; so, I think they are both a little on the high side. The shuttle is not worth the high price.
We are going in October and I opted for a Hoilday Inn about a mile away in North Hollywood for a 1/3 of what I paid for at the Sheraton. I just don't want to pay those higher prices. I believe with the waiting factor for the shuttle you are just as well off to commute to the park. I think the Sheraton is showing some aging, too. There one decent restaurant is pricey for what you get. The convenience factor is not worth it for us. Universal Hollywood park is a lot more manageable to do then the Orlando one. The rides are closer together. We managed about 75% of the park in one day and we started at 10am and left about 6pm. I'm going back because we didn't do the whole park.