The £6m property, which has undergone a six-month refurbishment programme, will feature 106 apartments, including kitchens, living areas, fibre-optic internet and air conditioning. The hotel also features a penthouse suite, complete with a rooftop balcony.
The firm said that 20 full and part-time jobs have been created for the operation of the hotel.
Mark Walton, of the UK division, said that the company is pleased to have been able to “maintain the hotel heritage of this site”.
He added: “Nottingham is a key area for us. We have been seeking out an opportunity to plug a gap in the marketplace in this area and with this are pleased to raise the bar on Nottingham’s accommodation offering as a premier but affordable alternative to hotels with this site.”