In London and Paris, the creme de la creme of luxury hotels are being renovated, refurbished and retrofitted.

The 121-year-old Savoy hotel will reopen in London in October after having undergone a complete overhaul that took almost three years. The Savoy, which is co-owned by Kingdom Holding and Lloyds Banking Group, had never had a systematic renovation and the hotel was "no longer competing at the top level of luxury," says general manager Kiaran MacDonald.