ROYALTY and leading lights from the worlds of politics and showbusiness have passed through its doors. Now the glitterati are being offered the chance to buy the Paris residence many have called home for the night.

The Hôtel de Crillon, one of the world’s landmark hotels, has been put up for sale by its American owner for more than €300m (£262m).

Starwood Capital, the investment firm that owns the Crillon, has instructed Eastdil Secured, a property adviser, to find a buyer. The venue, built in 1758 as a government building after being commissioned by Louis XV, is more likely to be sold to a high net-worth individual or a property investor rather than one of the large hotel chains.

Starwood has owned the Crillon, situated near the Champs Elysées on Place de la Concorde, since 2005. The company took on the hotel as part of its €2 billion acquisition of Taittinger’s hotel and champagne empire.

The deal saw Starwood, which is run by founder Barry Sternlicht, a veteran of the hotel trade, take control of a string of luxury properties as well as the Campanile budget hotel chain.

Another famous venue that Starwood acquired from Taittinger included the Lutetia hotel in Paris.

With its rich history, it is the Crillon, however, that is regarded as the prime asset.

It was converted into a hotel 100 years ago and former guests include George V, the Shah of Iran, the Dalai Lama and Winston Churchill. Stars who have stayed there range from Elizabeth Taylor and Charlie Chaplin, to Mariah Carey and Arnold Schwarzenegger.

It is not clear why Starwood is selling the operation now, given that property prices are still falling.

The investment firm was reported last year to be in talks to sell a number of the former Taittinger hotels to JJW Hotels & Resorts, a Saudi Arabian-backed company.

Starwood Capital, founded in 1991, is separate from Starwood Hotels & Resorts, the company behind the Sheraton, W and Westin chains, although Sternlicht ran the latter company for 10 years.