During World War II, the hotel housed an officers club for the United States military forces stationed in Melbourne under General Douglas MacArthur.

An extension in the 1970s added a carpark to the rear and an expanded first floor including a large function space, later known as the Bandroom.

From the late 1970s, alongside other St Kilda venues, namely the Crystal Ballroom and the Esplanade Hotel, the Prince Bandroom became a hub of punk rock and other forms of alternative music.

In the same period, Sunday nights featured an elaborate drag show called Pokies, which ran until 1992.

[1] Sold in 1996, the exterior was renovated and the upper floors revamped as a boutique hotel and fine dining restaurant, while retaining the Bandroom.