Paris’ exclusive Le Crillon hotel is in talks with US firm Rosewood Hotel and Resorts to take over the management of the property from spring 2015.

The owner of Paris’ famed luxury hotel, Le Crillon, is in talks with an American subsidiary of a Hong Kong-based company to take over the management of the Champs Elysée property, according to a report by French newspaper Les Echos.

A favourite haunt of celebrities visiting Paris, Le Crillon was bought for around 250m euros in 2010 by a member of the Saudi royal family, now believed to be in exclusive talks with the US Rosewood Hotels and Resorts over managing the former palace from spring 2015.

Rosewood Hotels and Resorts was bought by the Chinese firm New World Hospitality Group in 2011.