Datapulse: very low occupancy of Seoul hotel to partly hit full-year results

DATAPULSE Technology gave an update on Saturday on the operations of its hotel Travelodge Myeongdong City Hall in Seoul. The property was formerly known as Hotel Aropa.

"The novel coronavirus (Covid-19) outbreak is continuing to have a significant adverse impact on the hospitality industry in South Korea, with both international and domestic travel restrictions and flight suspensions affecting hotel occupancy levels. The group's results for the financial year ending July 31, 2020 will be adversely impacted as a result of, among other things, the very low occupancy of Travelodge Myeongdong City Hall," Datapulse said in its regulatory filing with the Singapore Exchange.

The group will continue to implement cost-cutting measures to mitigate the negative effects arising from the Covid-19 situation and will also use this opportunity to focus on the completion of the last phase of the hotel's refurbishment plans, it added.

The counter last traded on Thursday at 26 Singapore cents, up 6.5 cents from the 19.5 cents closing price on the previous day.

Datapulse's net loss for the first-half ended Jan 31, 2020 widened to S$768,000 from a (restated) net loss of S$205,000 in the year-ago period.

The group is principally engaged in the hotel and hospitality property investment business. It was previously involved in the media storage business and haircare business.