Item - 2025.EP19.1

The Board of Governors of Exhibition Place:

1.  Approved the 2026 Operating Budget attached as Appendix A to the report (October 17, 2025) from the Chief Executive Officer, Exhibition Place.

2.  Directed the Chief Executive Officer to submit the 2026 Operating Budget to the City Financial Planning Division as part of the 2026 Budget Process.

3.  Approved a one-time principal repayment of the City Conference Centre loan up to $2.500 million on December 1, 2025.

Toronto, North America’s fourth largest City is home to Exhibition Place. The site currently hosts more than 2,000 events annually generating $595 million in economic impact to the City with approximately 5.5 million visitors per year for exhibitions, conventions, events, entertainment, and other activities. Exhibition Place is evolving into a year-round destination, offering a broad range of events and experiences. The location is accessible and pedestrian-friendly, attracting visitors from local neighborhoods, across Canada, and internationally.

Our vision is to establish Exhibition Place as Canada’s leading venue for conventions, exhibitions, events, and entertainment, with a focus on creating an environment that supports easy movement and memorable experiences for all.

2026 Budget

On July 9, 2025, Mayor Chow and the Budget Committee Chair issued budget directions for all City divisions, agencies, boards, and commissions, emphasizing service delivery, financial sustainability, and cost efficiencies to support a balanced 2026 budget. City Financial Planning has set a net profit target of $2.200 million for Exhibition Place.

With respect to the Exhibition Place Conference Centre Reserve Fund, the balance at the end of 2025 is forecasted to be $8.542 million (including $2.710 million from 2024 surplus over budget). This reserve is a source of funding for both state of good repair, as well as, for the City loan repayment of the Conference Centre.

The latest findings from the Global Exhibition Barometer research concluded in July 2025 by UFI, with respects to the Global Association of the Exhibition Industry will enter 2026 with optimism, driven by international expansion, increased AI adoption, strong hiring, revenue growth and operational resilience. AI integration is accelerating, with most companies now routinely using tools like ChatGPT, Copilot, and Google Gemini in daily operations.

Despite all the challenges from bouncing back after the pandemic and the current state of home economy, our operation is progressing very well; our events revenue continues to grow, following the same trends as other businesses in the same industry.