Shanghai remains a favorite for new luxury outposts, be they stores or hotels, the latest of which is The Wanda Reign on the Bund. The over-the-top luxury hotel has opened on Shanghai’s waterfront, billing itself as the city’s first “7-star” hotel.

The Wanda Reign on the Bund opened to much fanfare recently, not only for being one of the most luxurious and opulent landmarks in Shanghai, but for the reputation of its owner Wang Sicong, the 28-year-old scion of a Chinese real estate baron who makes headlines for his spendthrift ways on nights out.

In keeping with his lavish tastes, the property was built to raise the bar in luxury hotel experiences. Set along the Huangpu River, the hotel is a museum of art and antique pieces by contemporary Chinese artists.

The hotel tapped designer Laurence Xu – the first Chinese designer to join Paris Haute Couture Week – to create staff uniforms. Artistic motifs include magnolias and traditional Suzhou embroidery.

All of the 193 guestrooms are controlled via iPads, and are styled in Art Deco-themed esthetics that are available in two different styles: modern glamour in a beige color scheme, and darker, mahogany burl wood with magnolia details. Guest rooms and suites are outfitted with amenities by L’Occitane and Hermès.

The luxury is also in the details, with bedtime amenities that include a sleep fragrance, music and bedtime reading material.

For guests for whom money is no object, there’s also the Chairman Suite which spans 288 sq m (3,100 sq ft) and features a living room, dining area, adjoining pantry, bar, study, master bedroom sauna and massage bathtub. Guests also have access to butler service.

Dining options include the rooftop restaurant Marc, by Michelin-starred French chef Marc Meneau, and restaurants The River Drunk for classic Southern Chinese cuisine and The Japanese Restaurant.

A promotion has guest room rates at CNY3,000 ($453) a night.