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19MAR202017133202 2024 | ANNUAL REPORT
ABOUT TARGET HOSPITALITY Target Hospitality Corp. (Nasdaq: TH) is one of the largest vertically integrated specialty rental and hospitality services companies in North America. We have an extensive network of geographically relocatable specialty rental accommodation units with 16,865 beds across 26 communities as of December 31, 2024. We also operate 2 communities not owned or leased by the Company. The majority of our revenues are generated under committed contracts which provide visibility to future earnings and cash flows. We believe our customers enter into contracts with us because of our differentiated scale and ability to deliver premier accommodations and in-house culinary and hospitality services across many key geographies in which they operate. For the year ended December 31, 2024, we generated revenues of approximately $386 million. Approximately 68.8% of our revenue was earned from specialty rental with vertically integrated hospitality, specifically lodging and related ancillary services, whereas the remaining 31.2% of revenues were earned through leasing of lodging facilities for the year ended December 31, 2024. Target Hospitality, though initially founded in 1978, began operating as a specialty rental and hospitality services company in 2006. Our Company operates across the U.S. and Canada, primarily in the Southwest and the Midwest U.S. Target Hospitality provides comprehensive turnkey solutions to customers unique needs, from the initial planning stages through the full cycle of development and ongoing operations. We provide cost-effective and customized specialty rental accommodations, culinary services and hospitality solutions, including site design, construction, operations, security, housekeeping, catering, concierge services and health and recreation facilities. We have established a leadership position in providing a fully integrated service offering to our large customer base, which is comprised of U.S. government service providers, and major companies supporting natural resource development. You may obtain copies of our annual report, and the 10-K included therein without charge by contacting us. Written requests should be directed to our executive office located at 9320 Lakeside Blvd., Suite 300, The Woodlands, Texas 77381. 2024 Annual Report
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TH Shareholder/Stockholder Letter Transcript:

19MAR202017133202
2024 | ANNUAL REPORT


ABOUT TARGET HOSPITALITY
Target Hospitality Corp. (Nasdaq: TH) is one of the largest vertically integrated specialty rental and
hospitality services companies in North America. We have an extensive network of geographically
relocatable specialty rental accommodation units with 16,865 beds across 26 communities as of
December 31, 2024. We also operate 2 communities not owned or leased by the Company. The majority
of our revenues are generated under committed contracts which provide visibility to future earnings and
cash flows. We believe our customers enter into contracts with us because of our differentiated scale and
ability to deliver premier accommodations and in-house culinary and hospitality services across many
key geographies in which they operate. For the year ended December 31, 2024, we generated revenues
of approximately $386 million. Approximately 68.8% of our revenue was earned from specialty rental
with vertically integrated hospitality, specifically lodging and related ancillary services, whereas the
remaining 31.2% of revenues were earned through leasing of lodging facilities for the year ended
December 31, 2024.
Target Hospitality, though initially founded in 1978, began operating as a specialty rental and hospitality
services company in 2006. Our Company operates across the U.S. and Canada, primarily in the
Southwest and the Midwest U.S. Target Hospitality provides comprehensive turnkey solutions to
customers    unique needs, from the initial planning stages through the full cycle of development and
ongoing operations. We provide cost-effective and customized specialty rental accommodations, culinary
services and hospitality solutions, including site design, construction, operations, security, housekeeping,
catering, concierge services and health and recreation facilities.
We have established a leadership position in providing a fully integrated service offering to our large
customer base, which is comprised of U.S. government service providers, and major companies
supporting natural resource development.
You may obtain copies of our annual report, and the 10-K included therein without charge by
contacting us. Written requests should be directed to our executive office located at 9320
Lakeside Blvd., Suite 300, The Woodlands, Texas 77381.
2024 Annual Report




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