It has taken four years and is rumoured to have cost more than US$224 million, but the Ritz Paris has finally reopened.

Founded by Swiss hotelier César Ritz in 1898, the palatial hotel is located on the Place Vendôme in Paris's First Arrondissement. The Ritz was bought from the Ritz family in 1979 by Egyptian businessman Mohamed al-Fayed, who previously owned Harrods Department Store in London before selling it in 2010.

Al-Fayed closed the Ritz for renovations in August 2012. It was supposed to reopen earlier this year but a fire in January delayed the opening by a further six months.

The hotel has kept its traditional 18th-century French decor, but received new plumbing, heating and cooling as well as a complete update of rooms, restaurants and bars.159 rooms have been reduced to 142 rooms and suites.

15 of the luxurious suites are named after the hotel’s famous fans including Coco Chanel, who lived at the hotel from 1937 to 1971, Marcel Proust, Ernest Hemingway and F. Scott Fitzgerald. Both Fitzgerald and Hemingway referenced the hotel in their novels 'Tender Is The Night' and 'The Sun Also Rises.' Hemingway once wrote to a friend, "When I dream of afterlife in heaven, the action always takes place in the Paris Ritz.”

The hotel is also now home to the world’s first Chanel Spa and a David Mallett hair salon.

For those considering a night at the Ritz, room rates start from US$1,118.