This is the parking area for the Parks Canada Lake Louise and Moraine Lake shuttle bus. It is part of the Lake Louise Ski Resort parking lot, so there are washrooms, a restaurant and other services.
The bus shuttle is well signed. Read the instructions in your bus shuttle reservation email and bring your reservation details with you. Don't arrive too early.
A Parks Canada parks pass is required to explore Banff National Park ($22/day for a vehicle of up to 7 people).