This remodel kept existing tub, and added Beadboard and a trim (PV - watertight/outdoor trim) to it. I used outdoor style trim in the past and it is perfect - since it is wasy to cut, miter, caulk, and it is going to withstand the wetness in the bath. Paint with Kils and then with an outdoor style paint- gloss- to ensure water resistance.
A wooden flea-market cupboard makes a great towel cabinet. Use the top of the cabinet for extra storage. Keep your regular supply in the glass-fronted cabinet. Having all towels visible makes it easy to keep track of your inventory. Open shelves on the sides hold glass jars full of cotton balls and soaps.