The world famous St. Regis Hotel opened a redesigned Tiffany’s suite in Manhattan that costs $8,500 a night.

John Loring, design director emeritus of Tiffany & Co, who had undertaken a similar redesign exercise in 1991, led the redesign of the space this time as well. He told Business Insider that the main goal of the whole exercise was to update the suite.

In the late 80's and early 90's the style in New York was anything but young, and fresh, and hip. It was rather ponderous and the suite was aimed at a very different audience than today, Loring said.

The suite attracted many business executives, heads of state, and big shots from the UN but Loring wanted to redesign the suite for a young, glamorous, more fashion conscious audience.

The suite in St. Regis is 'not your father’s hotel room anymore' it’s more edgy and contemporary, said Paul Nash, the general manager at the St. Regis.

The suite is mostly white, with inflection of classic Tiffany's blue and Tiffany's accessories. The best part of the space is the blue dining room.

Guests can place a special visit to the tenth floor of Tiffany & Co.'s flagship store in midtown, to see the workshop of Tiffany's designer Jean Schlumberger.