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 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.
Target 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.
"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.
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.
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: operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees and customers, remote work arrangements, contract and supply chain disruptions; operational, economic, political and regulatory risks; effective management of our communities; natural disasters, including pandemics and other business disruptions; Government appropriations; our reliance on third party manufacturers and suppliers; failure to retain key personnel; increases in raw material and labor costs; our exposure to various possible claims and the potential inadequacy of our insurance; our obligations under various laws and regulations, including any changes in the Biden administration; the effect of litigation, judgments, orders, regulatory or customer bankruptcy proceedings on our business and global or local economic and political movements. 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.
Investor Contact
Mark Schuck
(832) 702 – 8009
[email protected]
SOURCE Target Hospitality
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