Target Hospitality Corp, 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 in 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.
