Just off Toorak Rd, the 40-suite Lyall with one- and two-bedroom apartments has an on-site spa and champagne bar, original artwork by French-born Thierry B and a pillow menu. Suites are plush, if a little worn – like staying in your wealthy aunt's house – with a textural palette of taffeta, velvet and brocade. Melbourne-raised singer Olivia Newton-John has stayed here.