All the jewellery stolen from shops in Paris's Ritz hotel has been recovered, a source close to the case said.

Some of the jewellery was recovered on Wednesday after the arrest of three of the thieves as they tried to flee the hotel.

The rest was in a "bag seized yesterday by police," the source said.

The gems and watches stolen were thought to be worth over €4 million.

Three robbers, armed with axes, carried out the robbery late on Wednesday at the hotel on the city centre's Place Vendome, next to the Justice Ministry.
           
But the three, all aged about 30, were arrested after being blocked in the building. Two accomplices waiting outside were thrown some of the stolen goods and escaped by car and motorbike.
           
The motorcyclist, however, dropped one satchel, containing some of the jewels, after hitting a pedestrian in a melee fleeing the scene.
           
"I can confirm that all the stolen jewels were found in the bag recovered by police officers," the source said.
           
The getaway car was found about 20 kms north of Paris in an area where the three arrested came from.
           
The hotel, now owned by Egyptian billionaire Mohammed al-Fayed, first opened in 1898 and was the first Paris hotel to boast electricity on all floors and bathrooms that were inside rooms.
           
It was at the Ritz that Diana, Princess of Wales, spent her last night in 1997 before the car crash that killed her and her lover Dodi Fayed, al-Fayed's son.
           
The former home of fashion designer Coco Chanel and author Marcel Proust, the Ritz was a favourite drinking hole of writer Ernest Hemingway.
           
Armed robberies targeting jewellery stores are not uncommon in the area, where dozens of luxury boutiques align the streets.Over the last few years police have kept a permanent presence in the area, but that has not deterred potential robbers.
           
In December, a man was able to substitute two diamonds and two rings worth €5.5 million in a jewellery store replacing them with fakes.