Le Bristol hotel in Paris has been declared a national treasure by the French government following a 103m euro (£92m, US$150m) redevelopment of the property.

The hotel, which is privately owned by the Oetker family, has been recognised as having 'palace distinction' and becomes the first hotel in France to receive the accolade.

In total, the French government has awarded eight French hotels the right to call themselves a palace.

Le Bristol will be joined by seven others, which are The Meurice and Plaza-Athenee hotels in Paris, both owned by the Sultan of Brunei; Park Hyatt Paris Vendome; Grand Hotel du Cap Ferrat in Saint-Jean-Cap-Ferrat; L'Hotel du Palais in Biarritz; and two properties at the ski resort of Courchevel - Les Airelles and Cheval Blanc.

Redevelopment work on Le Bristol included the doubling the size of the hotel's Anne Semonin luxury spa, offering new treatments, product lines and facilities.

The full details of the spa will be released when it opens to guests later this year.

Other improvements include the opening of the new Matignon wing with 26 new rooms and suites; the creation of a second restaurant, 114 Faubourg, in the style of an authentic French brasserie; and relocation of the acclaimed three Michelin starred gastronomic restaurant to the garden - due to open summer 2011.

Didier Le Calvez, president and general manager of Hotel Le Bristol, said: "This is a real honour and we're very proud to have achieved this ultimate distinction amongst Parisian hotels.

“The palace distinction helps promote France's hotel industry across the world andreally helps Le Bristol to stand out as a superior offering amongst the plethora of luxury hotels in Paris.”

Hotels that failed to secure the distinction include the Ritz and George V in Paris and the Negresco hotel in Nice.