Fan coil thermostats can provide energy savings by, for example, not unnecessarily running a fan for longer than necessary or at a higher speed than necessary. Fan coil systems employing such a fan coil thermostat may be more energy efficient. A fan coil system may include a fan coil, a valve that controls fluid flow through the fan coil and a fan that blows air across the fan coil. The fan coil thermostat may include a controller that implements a control algorithm that may include an Auto fan speed mode. The controller may be programmed to permit a user to manually select a fan speed setting using the user interface. In response, the controller may initiate a timer, and may automatically return to the Auto fan speed mode once the timer expires.