Fan coil thermostats can provide energy savings by, for example, not unnecessarily heating and/or cooling an unoccupied room or other space. Fan coil systems employing such a fan coil thermostat may be more energy efficient. A fan coil system may include a fan coil that is configured for fluid communication with a source of heated fluid and/or a source of cooled fluid, a valve that controls fluid flow through the fan coil, a fan that blows air across the fan coil and a fan coil thermostat. The fan coil thermostat may include a controller that implements a control algorithm that may include an unoccupied temperature setting. The controller may be programmed to permit a user to enter a user-chosen temperature setting. In response, the controller may initiate a timer, and may automatically return to the unoccupied temperature setting once the timer has expired.