The Nitenite hotel in Birmingham has been bought out of administration by local entrepreneur Harj Mattu.
A Japanese ‘pod' style hotel, which features 100 windowless rooms, the site had been in administration for 18 months. Harj, who has existing hotels in the UK, took over the hotel and the employment of its 20 staff in March.
He said: "Working in the hotel industry for a number of years, I have seen a real shift in the market from full service hotels to limited service hotels and more ‘pod' style rooms. Nitenite was ahead of its time, being one of the first ‘micro boutique' style hotels in Europe when it first opened in 2006, offering affordable luxury with all the hotel room amenities required within a compact space.
"When I saw that Nitenite was on the market I knew it was a great opportunity to grow the brand and concept and expand into similar cosmopolitan cities across the UK and Europe."
Harj plans to invest £1m refurbishing the hotel facilities, including a complete overhaul of the hotel reception and lobby.