Pride Holdings Group has significantly expanded its global presence with the acquisition of Stonewall Bali, one of Southeast Asia's premier LGBTQ+ destinations. The publicly traded company, which trades under the ticker symbol OTC: PHSE, continues to build its portfolio of LGBTQ+ hospitality and entertainment properties across international markets. This strategic move into Indonesia marks an important milestone in the company's Asia-Pacific growth strategy and demonstrates the increasing globalization of LGBTQ+ focused hospitality services.
The acquisition aligns with Pride Holdings Group's long-term vision to establish itself as the global leader in LGBTQ+ hospitality, nightlife and lifestyle assets. Stonewall Bali, located in Badung, Bali, will maintain its tradition as an inclusive venue for dining, wine and spirits, and entertainment shows. The popular destination will continue to be locally managed by former owner Chris Bailey, who has joined Pride Holdings Group as the new director of strategic impact and expansion under the company's Australia and Southeast Asia division. This approach ensures continuity while leveraging local expertise in the Southeast Asian market.
Mike Barrett, CEO of Pride Holdings Group, emphasized the strategic importance of this expansion, stating that Bali represents one of the world's most visited and desired tourist locations. The company views this acquisition as an opportunity to embrace and cultivate the Southeast Asian market while strengthening its worldwide presence. Bali's status as a major international tourism destination, known for its diverse landscapes, rich cultural heritage and stunning beaches, provides significant growth potential for LGBTQ+ hospitality services. This expansion follows previous acquisitions in Europe and the United States, demonstrating the company's commitment to building a diverse international portfolio across multiple continents.
Craig Bell, director of Australia and Southeast Asia for Pride Holdings Group, highlighted that the ownership of Stonewall Bali represents a key factor in the company's strategic growth plan for the region. The acquisition fulfills the company's vision to continue acquiring properties in global regions to further develop its position in the LGBTQ+ travel and hospitality market. The move into Southeast Asia comes at a time when LGBTQ+ travel continues to represent a significant segment of the global tourism industry, with growing demand for inclusive and welcoming destinations across international markets.
Pride Holdings Group's strategy focuses on acquiring well-known properties while developing tech-enabled membership platforms and creating new revenue channels through agency services. The company maintains its commitment to setting global standards for inclusive hospitality while delivering sustainable growth to shareholders through strategic acquisitions and market expansion. This approach positions the company to capitalize on the growing LGBTQ+ travel market while establishing a global network of premium hospitality destinations that cater specifically to this demographic's needs and preferences.
