In Q3 2026 forward data shows ADR continuing to run below 2025, with 4 of the first 5 months of the year recording a year-on-year decline — an average drop of -1.4% across the five months for Roomex clients. April was the only month to gain (+1.5%), but May reverted to decline, and the weakness looks set to persist into the second half, most sharply in Gateway cities. Looking eight weeks out into August, forward prices are dropping — a reversal of this time last year, when the same forward window was rising 12.3%.
The UK Construction PMI has been in near-constant decline for over a year and now sits under 40 (50+ being positive), reflecting a people-heavy, capital-intensive, low-margin industry squeezed by the tax burden and reduced investment. The broader Composite PMI, which includes Services, is more resilient but has slipped to just under 50, having sat comfortably above it in the recent past. On the supply side, rising energy and employment costs are propping up price even as demand softens across leisure, inbound, and domestic business travel. The clearest opportunity for buyers remains Independents — now Roomex’s fastest-growing “chain” at 20%+ more of aggregate demand — as chain prices begin to depart upwards from the trend for the summer.
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