Tuesday, June 11, 2024 Target Hospitality Corp. a leading provider of modular accommodations and hospitality services in North America, was notified today by the U.S.
government of its intent to end the current agreement for services at the South Texas Family Residential Center (“STFRC”) with Target’s migrant programming partner (“STFRC Partner”). The termination is set to take effect in 60 days, on or around August 9, 2024 (“Effective Date”). It’s important to note that Target supplies facility and hospitality solutions to the STFRC Partner through a lease and services agreement (“STFRC Contract”), utilizing its own modular assets.
The STFRC Partner has also informed Target of their plan to terminate the STFRC Contract concurrently with the Effective Date. Target will maintain ownership of these assets, allowing the company to continue using them to meet customer demand within its current operating segments and explore potential growth opportunities. In light of today’s termination notice and the logistics involved, Target plans to provide updates on operations and finances reflecting the termination before June 30, 2024.
Target Hospitality stands as a premier provider in North America, offering meticulously crafted modular accommodations alongside an array of enhanced hospitality services. With a focus on customization and growth, Target constructs, possesses, and manages a diverse collection of communities tailored to various end users. Their comprehe.
