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The Renovation Status of elements is saved as part of the IFC Data.
In the Settings Dialog of elements, go to the Tags and Categories panel.
Here under the Renovation group, you can see the Renovation Status parameter.
This is the value that will be exported as a custom IFC Property.
If we open the IFC Manager Dialog with the File… File Special… IFC 2x3 [IFC two ex three]…
IFC Manager menu command… and select an element in the containment structure on the left…
we will see the Renovation And Phasing custom IFC Property group
listed on the right panel. Under it we can see the Renovation Status
custom IFC Property. This is the equivalent of the renovation parameter in the Settings Dialog.
The parameter can be useful because ArchiCAD will be able to restore the Renovation Status
of elements after an ArchiCAD to IFC to ArchiCAD roundtrip data exchange.