Source : Webster's Revised Unabridged Dictionary (1913)

Renovation \Ren`o**va"tion\ (-v?"sh?n), n. [L. renovatio: cf. F.
   r['e]novation.]
   The act or process of renovating; the state of being
   renovated or renewed. --Thomson.

         There is something inexpressibly pleasing in the annual
         renovation of the world.                 --Rabbler.

Source : WordNet®

renovation
     n 1: the act of improving by renewing and restoring [syn: {redevelopment}]
     2: the state of being restored to its former good condition;
        "the inn was a renovation of a Colonial house" [syn: {restoration},
         {refurbishment}]