Let me tag a couple of very helpful members in @Tara86 and @Mathy who might like to share their thoughts on how they would tackle this project.
You might also be interested in the video below from the @MakeItYours team. It shows the team restoring a timber bench and might give you some tips and inspiration. Were you thinking about using varnish or paint?
Hi @rndxpert sorry for the late response. In your picture, are the lighter patches fading, or is that highlights from light/window? If it is actual fading, you have 2 choices.
1. Strip the varnish/satin off the entire piece, and then re-varnish/satin.
2. This is more difficult, but you find a stain/varnish that when added over the top of the faded section, brings it all back to the same colour. Very difficult, but some people who are arty can do this. Cheers Deb