THE WOODLANDS, Texas--(BUSINESS WIRE)--Target Hospitality Corp. (“Target Hospitality” or the “Company”) (NASDAQ: TH), the largest provider of vertically-integrated specialty rental accommodations with premium catering and value-added hospitality services in the U.S., announced today that its President & Chief Executive Officer, Brad Archer, along with members of the Company’s senior management team, will ring the Nasdaq Stock Market opening bell on June 24th at 9:30 am E.T., at the Nasdaq MarketSite in Times Square, New York.
“We are honored to participate in the Nasdaq opening bell ceremony and would like to thank our customers, business partners, investors, and especially our dedicated team for their outstanding support, cooperation and loyalty. We are proud of our journey to become a public company and look forward to continuing to evolve our winning strategy that places significant value on best serving our customers,” stated Mr. Archer.
Within its first 100 days as a public company, Target Hospitality has made significant progress advancing its strategy of growing its network of communities and procuring exclusive long-term contracts with premier clients. Most recently, Target Hospitality acquired three communities from Superior Lodging, adding 575 rooms to its lodging network, and announced plans to open a new 200-room community in the Delaware Basin. With long-term exclusive contracts with guaranteed payment provisions, Target Hospitality has the ability to achieve high customer renewals, creating a sustainable competitive advantage and providing greater visibility into future performance. Target Hospitality is expected to be included in the Russell 2000 Small Cap Index starting on June 28.
Target Hospitality serves the U.S. energy and government sectors by uniquely combining the most attractive elements of specialty rental accommodations with hospitality and premium catering services. The Company’s lodges and communities feature state-of-the-art commercial kitchens and dining facilities, on-premises laundry, and indoor and outdoor recreational areas. Target Hospitality provides its customers with access to amenities such as 24-hour culinary services, housekeeping, security, and a code of conduct program which includes a “zero tolerance” drug and alcohol policy.
As of March 31, 2019, Target Hospitality owns and/or operates 20 locations with 11,160 average available beds. These figures do not include the recently acquired Superior Lodging communities, which were acquired in the second quarter of 2019, or communities that are currently under construction. To see a complete list of Target Hospitality’s communities, visit www.targethospitality.com.
Cautionary Statement Regarding Forward Looking Statements
Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: inability to grow its network of communities and procure exclusive long-term contracts; operational, economic, political and regulatory risks; our ability to effectively compete in the specialty rental accommodations and hospitality services industry; effective management of our communities; natural disasters and other business disruptions; changes in demand within a number of key industry end-markets and geographic regions; our future operating results fluctuating, failing to match performance or to meet expectations; our obligations under various laws and regulations; our ability to successfully acquire and integrate new operations; global or local economic movements; our ability to effectively manage our credit risk and collect on our accounts receivable; and our ability to fulfill Target Hospitality’s public company obligations;. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About Target Hospitality
Target 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.