First, start with the bed. This should be the focal point of the room and should have some "wow" factor. This can be achieved by creating a feature wall behind the bed with fabric or painting the wall an accent color. You can also find a grand headboard that draws the attention, and the easiest option is to use artwork above the bed to accentuate the space.
The second thing to focus on is dressing the bed. I suggest a solid or neutral pattern for the main bed linens (ivory is my personal favorite right now) and get the best you can afford; 300 thread count or better is a good starting point. By layering 2 - 3 different textures of blankets, duvets, and throws you will get sumptuous layers that you'll just want to crawl between! Get some down or down alternative pillows and plump them up and then place glamorous pillows in front so that you'll have something to prop you up while you read.
Speaking of reading in bed, you'll need to consider lighting. Lighting creates drama and atmosphere (oooh la la!). Ceiling lights should be on a dimmer, and the symmetry of two nightstands and lamps flanking the bed is key in hotel suites. So regardless of whether or not you have somebody occupying the other side of the bed, you should match both sides if you have the square footage to do so. If you don't want or have two lamps, then find something that will give comparable height to the opposite nightstand...and if you don't have room, you can also install wall lamps or sconces....
Your master suite should be a retreat from the rest of the world so take your time to find the color pallet that soothes you, invest in some good linens, turn the TV off and crawl into bed. Aaaah....doesn't that feel good? If only you could dial room service!