WATCH: How does the Toronto Zoo plan to survive an $8.3 million loss in revenue? Minna Rhee reports.
TORONTO – Even the Toronto Zoo’s highly publicized pandas Er Shun and Da Mao couldn’t help boost the attraction’s attendance and revenue numbers this year.
A new staff report up for review at a board meeting this week indicates the zoo is down $8.3 million from last year and received 284,000 fewer visitors as well.
The zoo blames changes in leisure spending habits, competition from Ripley’s Aquarium, and the bitterly cold weather this past winter as the factors for the decline.
However, the reports says further loses were avoided thanks in large part to the zoo’s Groupon attendance strategy.
“This proved to be quite successful and resulted in a total of 32,604 admission purchases, with 21,790 redemptions to date,” the report said.
The zoo says it plans to absorb the shortfall by reaching into its reserve fund.
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