Jack is this your thought? my only thinking was to create two hallways to "circle" the staircase?

I really like the flow around the stairs. Your guests dont have pass by the bedrooms to use the restroom. On the other hand, Jack has a valid point, if in fact you want more wall space behind the wet bar. True wet bar? Sink? That's a long way to trench to drain the wet bar, or is that under slab plumbing in already and how will you vent that location. You can get everything you need in a 5' wide x 8' bathroom. Add 2' to the length for a double basin sink cabinet

Yes i was planning on a wet bar with sink. There is water over head and a drain right near by.

Excellent! Jeremy, I think the layout looks great :-) and at second glance, you might prefer a full length wall behind the wet bar.

If the bathroom is to serve two bedrooms, I would give it a bigger vanity and more storage, taking space from "storage" in order to create a longer vanity and a linen cabinet by grabbing a 30 x 60" space, if possible for the toilet and linen cabinet to go on the wall opposite the longer vanity. I don't know what dimensions you allowed for the bath, but I'm figuring you allowed 5 x 8', which is more or less a standard small bath size. Since the bath seems more important to me than the storage, I would be inclined to expand it.

Do the bedrooms have closets?
Carolyn Albert-Kincl, ASID

Biggest bar counter top and bathroom vanity you can fit. So yes bigger bath and bigger bar. Horizontal surfaces are at a premium, you will find everyone hangs out at the bar. I would only have 1 hallway, it gives you more floor space and creates a cozier room. No one likes to sit near a hall, everyone wants to be in the cave like corner.

If I were redoing my basement I would add more plug ins and lights. I would layer the light and create more mood lighting. I would have a cleaning (bright) mode, a TV/movie mode, a pub/pool hall mode, a card/game night mode...etc.. also I would make sure I included a table with 4 chairs not huge but great for card/games/crafts/projects etc...that way everyone can be together.

I would add plug ins under the bar facing out for electronic devices, laptops, phone chargers etc... we are constantly plugging our stuff inside the bar and draping the cords over the bar top. Also add crown molding with light in it on dimmers. There are lots of options out there for lights. Have fun with your basement it looks to be a cool space.

I like it, Carolyn is right a larger bath would be nice, also might want to ask a hvac person about make -up air to the furnace.

Very good ideas

Cool lighting ideas from rawketgrl! In the bath, I would use two vertical sconces, one on each side of the mirror, plus a recessed light in the tub area. The sconces should provide at 100 watts or more (or equivalent) per fixture.

You should be able to find good fixtures similar to photo 1 below for $150 and up. George Kovacs makes an LED fixture similar to the second photo below that provides a lot of light for about $230.

Your bathroom layout is as same as my basement bathroom. I think it is about 5'x9', it will be plenty of room I think.