Paris police have recovered some jewels stolen from the Ritz Hotel in a multimillion-euro robbery but are still searching for two thieves and the rest of the missing luxury merchandise. Picture: Michel Euler/AP

Paris - Three suspects detained in relation to a jewel heist at the luxury Ritz hotel in Paris were remanded in custody on Saturday, a judicial source told dpa.

The gang netted an estimated 4 million euros (4.9 million dollars) worth of jewellery and watches on Wednesday, according to media reports.

A portion of the loot is said to have been found in a bag, although details of its contents and value have not been given.

Radio broadcaster Franceinfo reported that the criminals used axes to break open glass cases full of jewellery in the hotel's main hall.

There were reportedly five criminals involved in the heist, two of whom are still at large. The three captured suspects found they could not allegedly exit the hotel as planned because of a blocked door. The two who got away were stationed oustide.

Situated near the Place Vendome in the centre of Paris, the Ritz hotel is nestled amid luxury and jewellery stores. The neighbourhood has seen a number of spectacular robberies through the years.