So, what makes the hotel so special? Like other top hotels, it has luxurious rooms and suites, a spa, a swimming pool and a butler service. But the St Regis sets a new standard for exclusive luxury. For one, it houses one of the largest and finest private art collections in Asia. Adorning the hotel are works by famous artists such Joan Miro, Marc Chagall and Fernando Botero.

Then there is the fleet of commissioned Bentley limousines to ferry guests around, the air-conditioned tennis court (perfect for a game in the humid climate), a three-star Michelin chef and a ballroom able to host 1000 guests. The spa offers unique touches such as infrared heated marble beds, an ice fountain and an aquarium.

The official opening in April this year was one of Singapore's most exclusive parties, with 1000 of the city's leading lights in attendance. The Singapore Symphony Orchestra played as guests sipped Krug champagne and cocktails especially created for the event. In the evening, the party got into full swing with jazz bands from as far afield as Sydney and Shanghai. It is said that society matrons who did not make the guest list left town for the weekend rather than admit they had not been invited!

Being the new kid on the block does not mean that the St Regis comes without an interesting history. The first St Regis was built by Colonel John Jacob Astor IV in 1904. Over the years, he introduced such "modern" conveniences as telephones in every room, a fire alarm system, central heating and an air-cooling system that efficiently predated air conditioning. And, just as Raffles brags about inventing the Singapore Sling cocktail, the St Regis has an invention of its own to crow about, the Bloody Mary.

To establish the hotel as the home of high society, the founder's mother, Mrs Caroline Astor, threw a series of famous parties for the glitterati of New York. Her events became the envy of other hoteliers. Among the famous people who lived at the Regis were Marlene Dietrich, Salvador Dali and his wife Gala; and actress Gertrude Lawrence. Mr Astor died on the Titanic's maiden voyage, but his aim of creating a luxurious 'home from home' for the rich and famous lives on.

While the St Regis’ history reflects that of New York, Raffles Hotel is a Singapore icon. Founded by the three Sarkies brothers in 1887 and named after the founder of modern Singapore, Sir Stamford Raffles, it became one of the world's beloved grand hotels and a home for royalty, writers and film stars. Among the celebrities it has welcomed over the years are Noel Coward, Charlie Chaplin, Joseph Conrad, Somerset Maugham, Queen Elizabeth II, Ava Gardner and Elizabeth Taylor.

Not even World War II could get Raffles down. When the Japanese invaded Singapore in 1942, it was said that the soldiers entered the hotel they found the guests "dancing one final waltz". After being used as a transit camp for Japanese soldiers, it was reclaimed after the liberation of Singapore.

In 1987 the government declared the hotel a National Monument and in 1989 the hotel closed for a two-year remodeling costing S$160 million. The colonial style of the hotel remained, but a wing was added with new restaurants, luxury shops and a museum. Guests now have a choice of 18 restaurants and bars. A total of 700 Oriental carpets cover the floors. You can play a game of billiards in the bar where the last Singapore tiger was allegedly shot, have a Singapore Sling in the Long Bar and stay in the room where Rudyard Kipling stayed.

Another historic Singapore hotel is the Fullerton. It is housed in one of the city's most famous buildings in a prime CBD location overlooking the river. The building, named after the first Governor, was commissioned as a new home for the post office in 1919 as part of the British colony's centennial celebrations.

However, it only opened in 1928 and has also played host to the Stock Exchange, a number of government departments and the exclusive Singapore Club, which rented the top floors. During World War II, it was used as a hospital by the British and as the headquarters of the Japanese Military Administration in Singapore.

The transformation into a hotel began in 1997 and ended in 2000, when the 400-room hotel was officially opened by the Prime Minister of Singapore. Rooms have splendid sea and river views and its 25 metre infinity pool was chosen as one of the best in the world. Guests are ferried around in Rolls Royce limousines and its Post Bar has become a favourite among trendy business executives.

The St Regis, Raffles and the Fullerton may have interesting histories, but they still face very stiff competition from modern hotels such as the Four Seasons, the Shangri-La, the Regent and the Mandarin Oriental. There’s little to choose between them for excellent facilities and magnificent service. They all have their regular guests who swear that their hotel is by far the best.

However, the Ritz Carlton Millenia Hotel, a striking modern building set in a seven-acre garden oasis, takes a lot of beating. It is way ahead of the pack when it comes to contemporary art, with 4,200 works by artists such as Andy Warhol and Frank Stella hanging on its walls.

There seems no definitive winner in the search for Singapore's best hotel. The highly-respected Travel and Leisure Magazine this year voted Raffles the top hotel in Singapore, followed by the Ritz Carlton Millenia. The Conde Nast Traveler magazine chose the Four Seasons as the best, followed by the Fullerton. Very soon there will be new kid on the block, the Norman Foster-designed Cappella Singapore Hotel on Sentosa Island. It will have to be really special to compete here.