M&A Deal Summary

Target Hospitality Acquires Superior Lodging - Three Communities

On June 19, 2019, Target Hospitality acquired real estate company Superior Lodging - Three Communities from Superior Lodging

Acquisition Highlights
  • This is Target Hospitality’s 1st transaction in the Real Estate sector.
  • This is Target Hospitality’s 1st transaction in Canada.
  • This is Target Hospitality’s 1st transaction in Alberta.

M&A Deal Summary

Date 2019-06-19
Target Superior Lodging - Three Communities
Sector Real Estate
Buyer(s) Target Hospitality
Sellers(s) Superior Lodging
Deal Type Divestiture

Target

Superior Lodging - Three Communities

Calgary, Alberta, Canada
Superior Lodging Corp. - Three Communities are located in the Delaware Basin – a high-growth area within the Permian Basin. Two of the three communities are located in Orla, Texas and add 395 rooms to the Company’s Permian Basin lodging network. Target Hospitality has managed these communities since mid-2018, providing it with an intimate understanding of each property’s operations. The third community has 180 rooms and is located in Kermit, Texas.

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Buyer(S) 1

Buyer

Target Hospitality

The Woodlands, Texas, United States

Category Company
Founded 1978
Sector Business Services
Employees984
Revenue 564M USD (2023)
DESCRIPTION

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. Target Hospitality was founded in 1978 and is based in The Woodlands, Texas.


DEAL STATS #
Overall 3 of 4
Sector (Real Estate) 1 of 1
Type (Divestiture) 3 of 4
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Target Lodging Management

The Woodlands, Texas, United States

Target Lodging Management LLC is a provider of turnkey workforce housing solutions in North America, operating 21 properties in the United States and Canada. The company supports the oil, gas and mining industries with workforce housing, mobile crew camps, and extended-stay hotels. Target Lodging was formed in 1978 and is based in The Woodlands, Texas.

Buy $820M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-02 ProPetro Holding - Midland Community

Midland, Texas, United States

ProPetro Holding Corp. - Midland Community is a 168-room community provides a full suite of turnkey services at the Midland location as well as across the Company’s proprietary Permian Basin lodging network.

Buy -

Seller(S) 1

SELLER

Superior Lodging

Calgary, Alberta, Canada

Category Company
Founded 1993
Sector Real Estate
DESCRIPTION

Superior Lodging Corp. is a national hotel development and real estate investment company that has been delivering consistent high-yielding returns for investors in the hospitality sector for over 20 years. Widely recognized for developing Super 8® into one of Canada’s most successful hotel brands, Superior Lodging continues to lead the way in delivering exciting new brands to the Canadian hotel marketplace while providing hotel owners with exceptional results through a highly disciplined and transparent approach to doing business.


DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2019) 1 of 1