In December 2007, the hotel closed for a complete renovation, the cost of which was budgeted at £100 million. The hotel conducted a sale of 3,000 pieces of its famous furnishings and memorabilia. The projected reopening date was delayed more than a year to October 2010, as structural and system problems held up construction. The building's façade required extensive stabilisation, and the cost of the renovations grew to £220 million. The new energy-efficient design reduced the hotel's electricity usage by approximately 50% and reuse and recycling increased.