HI -- I have the very same bay windows . I put Hunter Douglas wood blinds fitted to the windows and have hanging drape side panels on the side walls on each side of the bay . So nothing hanging in the middle . I have the panels ( 95 inch length ) hung from the full wall height (8 ft.) on a rod that goes across the width of the whole wall. Or you could just have the rod the with of each side wall ,having a finial on the interior ends . So that would be ,two small rods with 2 wall cup brackets and two finial ends . I am not a fan of the shutters because of the cost but mostly because they block too much of the light and view . Have the window blinds and the bay interior the same color .

Perhaps a large round table might mean a rug is not at all necessary. It could be a metal tray table, or carved wood like Rebecca Mitchell Interiors illustrates. Ideas also to consider, using multiple tables can be found at http://www.houzz.com/multiple-coffee-tables. I also agree with comments above that some color is needed on the walls. You could then hang round mirrors, or an unusual curved shape like RMI shows above.

Hi Amandeep, Sorry but this is a very bad and cheap wall treatments for a bedroom. You can do a lot better.

I feel partitions are not needed. You already have too much for the space. Adding a partition will shrink the space further. The simplistic solution, you do not wish to discard any furniture would be to paint all the walls in lighter pastles. And use some wall painting frames to highlight certain walls.