Thai-owned Compass Hospitality has launched its boutique budget brand Citrus in the UK following the acquisition of the 51-bedroom Holiday Inn Coventry South hotel.
The hotel, which was bought off a guide price of £3.6m, will be refurbished over the next 12 months.
Compass currently operates seven Citrus hotels in Thailand and Malaysia as part of a wider portfolio of 43 hotels, including 11 in the UK, some of which are company-owned and others that are managed on behalf of third-party businesses.
Nick Greaves, vice president of operations, sales and marketing, UK, of Compass Hospitality, said it was business as usual for the newly named Citrus Hotel Coventry prior to the refurbishment.
"Citrus Hotel Coventry is a well-appointed and located hotel with the range of rooms, free car parking, gym and events space that have always made it a popular choice," he said.
Greaves added that Compass Hospitality intended to acquire further hotels within the UK to add to the Citrus brand and was considering converting some of its existing portfolio across the country into Citrus properties. "However, there will be some hotels within the collection which always operate independently, such as the Lace Market hotel in Nottingham," he added.