Target Hospitality Purchases Delaware Basin Lodging Properties
- Jun 21, 2019
Target Hospitality Corp. has acquired three lodging properties, totaling 575 single-occupancy accommodations in the Delaware Basin, from Superior Lodging. All three communities are situated in a high-growth area within the Permian Basin. Target Hospitality’s lodging network now includes 15 sites with more than 7,850 available guestrooms.
Two of the newly acquired properties are located in Orla, Texas, and Target Hospitality was already familiar with both, having managed them since mid-year 2018. The company also purchased the 425-key Delaware Orla Lodge, located at 4281 US Highway 285 N., as part of the portfolio. The property is close by the interchange of highways 285 and 62. Carlsbad Caverns National Park is just 18 miles away.
Target Hospitality already had a lodging property in Kermit: The 226-bed Kermit Lodge located at 549 E. Highway 115.
All three communities included in the portfolio are situated at the epicenter of great activity among oil and gas companies, and that makes these guestrooms very desirable in the area.
The trio of properties feature single-occupancy accommodations with private bathrooms, a state-of-the-art commercial kitchen with dining facility, on-premises laundry and indoor and outdoor recreational areas. They also offer 24-hour culinary services, housekeeping, security and a code of conduct program that includes a “zero tolerance” drug and alcohol policy.
In March, Platinum Eagle Acquisition Corp. acquired Target Logistics Management LLC—aka Target Lodging, and Signor Lodging for about $1.4 billion. As part of the deal, Platinum Eagle changed its name to Target Hospitality Corp.