Luxury Paris Hotel Lutetia closes for renovation

Paris's landmark art déco hotel Lutetia, whose guests included Pablo Picasso, Charles de Gaulle and James Joyce, closed on Monday for a three-year renovation following similar makeover moves by rivals.

The seven-storey Art Deco hotel built in 1910 follows in the footsteps of the Crillon, Ritz and Plaza Athenee which have all closed for extensive revamps.

French architect Jean-Michel Wilmotte will oversee the renovations. After the renovation work, Hôtel Lutetia will join "The Set" collection of luxury hotels, including Café Royal in London and Conservatorium Hotel in Amsterdam.

"Our collection wanted to use a French architect with a good working knowledge of the city of Paris and experience working on National Heritage sites because each hotel in our collection takes its roots in the history and culture of its environment", explains Georgi Akirov, The Set Hotels.

Hôtel Lutetia is also selling its collection of artworks, over 3,000 pieces of furniture and 8,000 bottles of wine and spirits. The auction is being organized by Pierre Bergé & Associés in collaboration with Métayer auction house. According to WWD, the sale is predicted to raise up to 2 million euros, or $2.8 million at current exchange.

Viewing of the items opens May 15 and 18. The auction takes place between May 19 and 25, 2014 at Hôtel Lutetia.