The American Airlines Theatre was designed by George Keister as an Italian Renaissance-style theatre. The venue opened in 1918 under the name of the Selwyn Theatre.

Over the course of its history, the building has been used as a theatre, a cinema and even a visitor's centre until it fell into a derelict state of disrepair. The Roundabout Theatre Company vowed to renovate the theatre in 1997 and re-opened it as the American Airlines Theatre on Jun. 30, 2000. American Airlines donated $8.5 million to help cover renovation costs.