Killer Teddy Bear!!

I saw this movie when I was a kid, back in the 80's... it could be from the late 70's as well. I can remember certain parts, I remember two people ending up at this house or hotel with some big Asian butler or chef, they find a cake or pie looking thing and set it on the table then they leave the room and it starts glowing and breathing.

Another scene is where a guy is laying on the bed with a teddy bear and then a spike or knife pops out of the teddy bears paw and stabs the guy. Also it seemed everyone that was taken over had a pentagram on the palm of their hand!!