Business
Target Hospitality Announces New Partnership and Contract Providing Comprehensive Service Offerings and Solutions
THE WOODLANDS, Texas, March 29, 2021 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality", "Target" or the "Company") (NASDAQ: TH), the largest
About this update from Target Hospitality Corp.
[{"type":"text","content":"THE WOODLANDS, Texas, March 29, 2021 /PRNewswire/ -- Target Hospitality Corp. (\"Target Hospitality\", \"Target\" or the \"Company\") (NASDAQ: TH), the largest provider of vertically-integrated specialty hospitality accommodations with premium food management and value-added hospitality services in the U.S., today announced it has entered into a lease and services agreement with a leading national nonprofit organization to provide comprehensive hospitality service offerings and solutions.\nTarget will provide a suite of support services for up to 4,000 individuals, including displaced persons, nonprofit employees, and related personnel. These comprehensive services align with Target's existing core competencies and will consist of lodging infrastructure solutions, food management, and logistics services. The Company will utilize its existing network of communities, resulting in minimal customization or required capital. These attributes will enable Target to quickly mobilize and begin providing these valuable services to our customers in support of their humanitarian aid efforts. \n\"We are excited to announce this new partnership, which aligns Target with a leading national nonprofit organization supporting humanitarian efforts. This contract is consistent with our strategy of diversifying with high quality contracts, while simultaneously utilizing Target's core competencies to further diversify our end-markets. We believe this positions Target to further develop strategic long-term partnerships with other non-profit organizations, while providing lasting solutions that serve and aid our customers and supports local communities,\" stated Brad Archer, President and Chief Executive Officer. \nAbout Target Hospitality\nTarget Hospitality is the largest provider of vertically integrated specialty rental accommodations and value-added hospitality services in the United States. Target Hospitality builds, owns and operates customized housing communities for a range of end users, and offers a full suite of cost-effective hospitality solutions including culinary, catering, concierge, laundry and security services as well as recreational facilities. Target Hospitality primarily serves the energy and government sectors, and its growing network of communities is designed to maximize workforce productivity and satisfaction.\nCautionary Stat...