For the opening of its new 6,000-square-foot penthouse suite, occupying the entire eighth floor, Rome’s Regina Hotel Baglioni is featuring an art installation titled Luxury Is Not a Waste. Vincenzo Basile of Basile Arteco curated the project specifically for the new suite (from approximately $18,700 per night), which—with three bedrooms, two living rooms, a dining room, 3,122 square feet of wrap-around private terraces, and a hot tub—feels more like a private home. A total of 26 decorative pieces range from Mu…