Place of great beauty, old and new, exotic, welcoming King (10)
I believe the answer is:
wonderland
'place of great beauty' is the definition.
'wonderland' can be an answer for 'place' (I have seen 'Extraordinary place' mean 'wonderland' so perhaps 'place' could also mean 'wonderland'). I'm not sure about the 'of great beauty' bit.
'old and new exotic welcoming king' is the wordplay.
'exotic' indicates anagramming the letters (an unusual form of the letters).
'welcoming' means one lot of letters goes inside another (in sense of 'inviting in').
'king' becomes 'R' (abbreviation for rex, king in Latin).
'old'+'and'+'new'='oldandnew'
'oldandnew' is an anagram of 'wondeland'.
'wondeland' enclosing 'r' is 'WONDERLAND'.
Can you help me to learn more?
(Other definitions for wonderland that I've seen before include "entertained Alice" , "Scene of Alice's adventures" , "Extraordinary place" .)