The incident happened just before midnight in the 1200 block of Market Street.
According to police, the man grabbed necklaces and bracelets and ran off. However, what the thief grabbed were high-end replicas.
He was last seen going westbound on Market Street. He is described as wearing dark clothes with a white stripe down the pants.
Police are checking surveillance tapes to get a clear look at the suspect.
So far, the hotel has not said how much the stolen jewelry is worth.
There were no reports of any injuries.