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The Mail on Sunday alleged that a group of four Newcastle players, reportedly including Craig Bellamy and Patrick Kluivert, incurred the wrath of staff at The Ritz with unruly behaviour.
It was suggested that the hotel sent a letter outlining their anger to Newcastle, but Shpeherd has moved to scotch the rumours.
"I have received no letter of complaint from the Ritz," he affirmed.
Newcastle boss Graeme Souness has confirmed he has received a letter of complaint from the Ritz Hotel in London about the behaviour of some of his players.
The Mayfair hotel was allegedly the venue for a group of Newcastle players to stage a pre-Christmas party.
Their behaviour resulted in hotel staff writing to the Newcastle club to complain.
Souness, after his side's 3-1 defeat at Liverpool, said: "I received that letter, and I am not going to tell anyone what was in it.
"They are boys, it was their day off and I am not going to comment on it any further."
It is believed the incident in question took place three weeks ago.