There is a difference, though at times it may be subtle!  A remodel represents more of a change in form from the original design or layout, such as adding a new shower to a bathroom or the addition of an island to an existing kitchen. It would also included removing or opening a wall to create a more open floor plan. Technically, a renovation is a restoration of an existing space with upgrades in order to bring something older back to good form. This would include fixing an older hardwood floor or fixing the brick hearth of a fireplace.