In 1963 I first moved to Paris as a teenager and got to know how beautiful the city and people are. After I became somewhat well off, I began going to Paris every four years to watch the World Cup, and my first hotel was the George V. It was back then well worth every franc.
I've returned to the hotel at least ten times since 1976, and each time is has become, as many things in life, "not what it used to be". There are much better majestical hotels in Paris in 2011, and I highly recommend you read the reviews here for better places. I also suggest you patiently read as many reviews as possible.
Four Seasons Hotel George V Paris has cut corners in quality while raising their prices beginning in 1991 when the French government refused to back the UN on sanctions, and American tourism dropped from 25 million per year to only 7 million. Reservations plummeted, and they had to (1) try to attract a new demographic clientiele, (2) cut costs, and (3) raise prices.
I stayed there last month on an overnight trip from Amsterdam. It will be my last Euro spent there. There is simply nothing left but a reputation earned over three decades ago.