Pride Holdings Group Expands With New Birdcage Cabaret Lease On Race St. In Cincinnati

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FORT LAUDERDALE, FL, UNITED STATES, September 17, 2025 /EINPresswire / -- Pride Holdings Group (OTC: PHSE) is proud to announce the execution of a lease agreement in Cincinnati, Ohio, for its celebrated Birdcage Cabaret concept, an entertainment venue known for dynamic drag performances, elevated nightlife experiences, and inclusive community culture. This expansion brings the renowned Birdcage brand, already a staple in Key West, to one of the Midwest's most vibrant markets.

The new 2,318-square-foot venue, located at 927 Race Street Cincinnati, OH, is backed by a $50,000 tenant improvement (TI) allowance. Once base rent collections exceed the TI investment, Pride Holdings will implement a structured rent reduction of $4.31 per square foot across a five-year term. This strategic agreement allows for sustainable growth while ensuring long-term profitability.

The rent schedule reflects a carefully structured trajectory, beginning at $27.19 per square foot in year one ($63,044 annually) and gradually increasing to $35.44 per square foot ($82,200 annually) by year ten. The agreement also follows Pride Holdings' established model, where TI contributions are applied exclusively toward permanent property improvements rather than furniture or fixtures.

"This lease marks a significant step in bringing the Birdcage Cabaret experience to a new audience," said Mike Barrett, CEO of Pride Holdings Group. "Our Cincinnati expansion reinforces our commitment to investing in culturally vibrant, inclusive venues that not only provide entertainment but also foster community and long-term shareholder value. With a disciplined lease structure and proven demand for our Birdcage concept, we are confident this will become another high-performing asset in our portfolio."

About Birdcage Cabaret

Newly located at 927 Race Street in Cincinnati, Birdcage Cabaret is a nightlife destination featuring theatrical drag performances, specialty cocktails, and bold design elements. With a reputation for inclusivity and creativity, the Birdcage brand has become synonymous with high-quality entertainment and a welcoming community spirit. The Cincinnati location will introduce this acclaimed concept to a new audience while upholding the standards that have defined its success in Key West.

About Pride Holdings Group

PRIDE Holdings Group (OTC: PHSE) is the premier LGBTQ+ hospitality and cultural rollup. Through the acquisition of high-value properties, launching tech-enabled membership platforms, and creating new revenue channels through agency services, PRIDE Holdings is setting the global standard for inclusive hospitality while delivering sustainable growth to shareholders.

Forward-Looking Statements

This press release contains forward-looking statements, including expected revenue growth, EBITDA margin expansion, and expansion timelines. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Pride Holdings assumes no obligation to update forward-looking statements except as required by law.

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