BOSTON -- The city's most anticipated new hotel opened its doors Monday with all the fanfare one would expect from a Mandarin Oriental hotel.

NewsCenter 5's Liz Brunner reported that the new lap of luxury has been years in the making and begins its relationship with the city of Boston at a time when the economy is in a tailspin.

Luxury Hotel Opens In Downtown Boston

"I look at this from my world, as a hotelier, just keeping the economy moving. Instead of letting it all lock up in a bank somewhere in Switzerland, we're keeping it moving in the Back Bay," developer Robin Brown said.

Brown officially launched his new "baby" today -- the Mandarin Oriental Boston, a labor of love 13 years in the making.

"It was a dream, or some days, a nightmare. I guess mostly a dream," Brown said. "So despite the world collapsing around us, this thing will do great, and people will enjoy it and just sets a new something for Boston to be proud of."

Located on Boylston Street in the heart of Back Bay, the hotel has 148 guestrooms, suites, signature retail stores condos and rental apartments.

The classic, contemporary styling with Asian accents is evident the moment you enter the lobby. General Manager Susanne Hatje gave NewsCenter 5 the grand tour.

Custom-made furniture, drapes, even upholstered walls fill one 1,700-square-foot suite. For $3,800 dollars a night, it comes complete with living and dining areas and a spacious master bedroom.

The Italian marble master bath even has a built-in high-definition TV screen at the end of the Jacuzzi. There's even a walk-in closet.

There are also 25, one- and two-bedroom rental apartments. The 49 custom condos sold before the hotel broke ground -- mostly to local Bostonians.

"It's great that this many people want to live right in the heart of the city," Brown said.

The Mandarin also boasts world-class dining and shopping.