Pride Holdings Group (OTC: PHSE) announced today that it has secured a 10-year lease for Stonewall Newtown, an iconic LGBTQ+ venue in Sydney, Australia. The lease, negotiated by Craig Bell, enables the company to undertake major refurbishments and upgrades aimed at revitalizing the space while preserving its cultural significance to the LGBTQ+ community. The renovated venue is scheduled to open in early January 2026.
According to the press release, the refurbishments include improvements to entertainment spaces, facilities, sound and lighting, and accessibility. The redevelopment seeks to enhance the guest experience while maintaining the venue’s legacy as a safe and inclusive space. This move is part of Pride Holdings Group’s broader strategy to expand its footprint in the Asia-Pacific region. CEO Mike Barrett stated, “Great to keep the international expansion of Pride Holdings Group moving along. This is our 3rd expansion into Australia and Asia in the past 4 months, and we look to further strengthen our position as the preeminent LGBTQ+ company in Australia.”
Pride Holdings Group, described as the premier LGBTQ+ hospitality and cultural rollup, focuses on acquiring high-value properties and launching tech-enabled membership platforms. The company’s expansion into Australia and Asia includes plans to open more locations in Australia, New Zealand, and Asia in 2026 and beyond. The lease of Stonewall Newtown represents a significant step in this strategy, leveraging the venue’s established reputation to attract both local and international patrons.
The announcement underscores the ongoing growth of LGBTQ+-friendly hospitality spaces in Sydney, a city known for its vibrant nightlife and inclusive culture. Stonewall Newtown has long been a cornerstone of the local LGBTQ+ community, and the refurbishments aim to modernize the venue without erasing its historical importance. The project is expected to create jobs and stimulate economic activity in the Newtown area, a popular hub for entertainment and dining.
Pride Holdings Group’s forward-looking statements note that actual results may differ due to risks and uncertainties. The company does not undertake to update these projections. However, the lease agreement signals confidence in the region’s hospitality market and the enduring demand for LGBTQ+ venues.
The original press release is available at NewMediaWire.
