To the disappointment of the Hollywood celebs and business tycoons who bunk down at The Gritti Palace while staying in Venice, the iconic luxury hotel has shuttered its palatial doors for a 15-month restoration. When it reopens in 2013, this Starwood Luxury Collection hotel is guaranteed to still have its magnificent historic features and design elements (original Rubelli Venetian textiles and unique furniture custom designed by Donghia and inspired by Venetian Rococo couches and pozzetti). But it will also flaunt up-to-the-minute technology and all the latest contemporary conveniences. The finest craftsmen have been enlisted for this meticulous renovation project. Located on the Grand Canal and housed inside a 16th century palazzo, The Gritti Palace is a fixture on Travel + Leisure magazine's "T+L 500" list of top-rated hotels around the globe.

For other accommodations options in Venice, check out our recommended hotels.