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In a town that worships youth over everything but money, stars of yesterday still can make news when they kick up their heels. That happened Friday, when Merv Griffin opened the doors to the swank new Coconut Club in his Beverly Hilton Hotel.

Inspired by such legendary haunts as Mocambo’s and the Cocoanut Grove, where Griffin began singing with Freddie Martin’s big band, the new tri-level supper club features a dance floor, lush tropical decor and an adjoining cigar club run by Jim Belushi and Chuck Norris. Griffin’s longtime musical sidekick, Jack Sheldon, was on hand to conduct his band on opening night.

Among those in attendance were Hollywood mainstays Jackie Collins, Angie Dickinson, Robert Loggia, Les Brown, Lanie Kazan and Dick Van Patton. Regis Philbin, Larry King, Vanna White and Marvin Davis also joined them.

Griffin, sporting a scruffy “Papa Hemingway” look, clearly was ecstatic with the reception. He said he will return to the recording studio soon for a new album, backed by an 86-piece orchestra.