Pride Holdings Group (OTC: PHSE), formerly Parliament House Enterprises Inc., has announced the acquisition of Stonewall Bali, a prominent LGBTQ+ destination in Badung, Bali. This move expands the company's global portfolio beyond Europe and the United States into Southeast Asia, aligning with its long-term vision to dominate the LGBTQ+ hospitality, nightlife, and lifestyle sectors.
Stonewall Bali will retain its identity as an inclusive venue for dining, wine, spirits, and shows, continuing to be locally managed by former owner Chris Bailey. Bailey has joined Pride Holdings Group as director of strategic impact and expansion under the company's Australia and Southeast Asia division. The acquisition leverages Bali's status as a top global tourist destination, attracting millions of international visitors annually, particularly from Australia and Europe.
"We are proud to add Stonewall Bali to the Pride Holdings Group diverse portfolio which includes properties in Europe, the United States and now Southeast Asia. Bali is one of the world's most visited and desired tourist locations, so we are excited to embrace and cultivate this market as we expand our worldwide presence," said Mike Barrett, CEO of Pride Holdings Group.
Pride Holdings Group continues to execute its strategic growth plan in the Asia-Pacific region. "As we expand in Australia and Asia, the ownership of Stonewall Bali is a key factor as part of our strategic growth plan," said Craig Bell, director of Australia and Southeast Asia. The company aims to establish itself as the global leader in LGBTQ+ hospitality by acquiring well-known properties, launching tech-enabled membership platforms, and creating new revenue channels through agency services.
This acquisition underscores Pride Holdings Group's commitment to inclusive hospitality and sustainable growth for shareholders. For more information, view the original release on NewMediaWire.
