It was scheduled to open after its extensive renovations in June last year but that date has now been pushed to either late August or early September. Not only has the opening date been postponed, but costs have apparently soared higher than expected on the project.
The Savoy’s renovation was reportedly to cost £100m when it shut its doors in December 2007. Now, however, costs are expected to be as high as £200m, making the renovation the most expensive in London’s hotel history.
If you look at the costs closely, including the purchase price the hotel was sold at to Prince Alwaleed’s Kingdom Holding Company and HBOS back in 2005, it amounts to £1.6m per room – one of the world’s most expensive hotels.
The delays and soaring costs are reportedly due to the damage that needed repairing in the 121-year-old hotel. The building has had poor refurbishments in the past, tainting the building’s structure. The amount of damage to the hotel was only discovered after work began.
Once the hotel reopens it will only have five more rooms than before, bringing the number to a total of 268, including 62 suites. Prices will start at £350 a night, rising to £7,500 for the Royal Suite.
The interior design of the hotel will stay as an Art Deco and Edwardian style but will be mixed with contemporary luxury tastes. Pierre-Yves Rochon was in charge of the interior design. He is well known for projects including the George V in Paris and the Four Seasons in Florence.
First published in the DesignClub on 29th Apr 2010
This and other advance news articles, together with our ‘Ask the Experts’ column and our photo Gallery of hotel interiors, are available for an annual subscription of less than £1 a week. Sign up here for immediate access.