Hotel operator Fairmont has revealed that London's Savoy Hotel will not reopen until late summer after a major renovation of the 120-year-old property hit further delays.

A spokesperson for the company said it had yet to confirm a specific date for the relaunch, which was originally scheduled for May 2009 after the hotel closed in December 2007 to allow work to take place. Initial costs for the renovation project, which was designed by Pierre-Yves Rochon, were put at more than £100m. However, it is believed the scheme may now be approaching the £200m mark.

According to The Times, the recent delays have been blamed on the need to correct "cut-price and poorly-executed refurbishments" carried out by previous owners - forcing the project price up. When complete, the historic Savoy Hotel will boast 268 guest rooms and suites, the courtyard and American Bar, public areas and a new Royal Suite, while the River Restaurant has been remodelled.

Chef Gordon Ramsay is set to head the new-look Savoy Grill, while a new venue for champagne and cocktails - the Beaufort Bar and the Savoy Tea Shop patisserie are among new additions. The Savoy also includes a fitness centre – equipped with cv and resistance equipment and free weights, a swimming pool and a spa. Meanwhile, former Hilton International chief executive Sir David Michels is reported to have been appointed of the board of the Savoy's holding company. To read an interview with Michels on his career in the industry, see Leisure Management Q1 2009, p28.