cbspock
01-16-2002, 06:59 AM
http://www.timminspress.com/timminspress/NEWS/0116-3.htm
Financial forecasts rosey for Shania Twain Centre and Gold Mine Tour
Financial forecasts for the tourism jewels of Timmins, the Shania Twain Centre and the Underground Gold Mine Tour, are radiating a healthy glow.
The Board of Directors for both sites are predicting a financial turnaround for the sites which, in 2001, experienced a net loss of $241,360. To do this, however, they need extra funding.
Anita Damini, vice chair of the Board, told Timmins City Council during Monday night's meeting they need $117,000 in support, up substantially from last year's $48,000.
"In order to achieve the goals discussed in this plan, the attractions will have to increase both the scope and level of service and their marketing efforts," Damini said. "The result will be an increase in the operating costs for both attractions."
Damini said in an effort to increase the visibility of both sites, as well as ensure an increase in traffic, their business plan focuses on attracting both local visitors and tourists.
"The increased number of visitations to both attractions will allow the Gold Mine Tour and the Shania Twain Centre a projected surplus of $18,350 in 2002 to $19,263 in 2006," she said. "These projections include repayment of the outstanding debt incurred by the attractions during the recent renovations and construction."
The plan forecasts a steady increase in tour ticket sales. About 12,275 tickets were sold last year, while 16,000 are expected to be sold this year and 24,050 in 2006.
Coun. Tom Laughren said the projected numbers may be too high.
"With the effect of Sept. 11 on the tourism industry, are your numbers realistic?"
Damini explained the numbers of visitors were actually a conservative estimate based on the increase in numbers in 2001.
Jack Watson, city clerk, added that if Shania Twain should visit her hometown in the next year or two, the numbers would rise even higher. He added their prices were competitive with other operations.
"I challenge you to go anywhere else and get a better deal."
Laughren also expressed concern that future improvements and maintenance costs may play havoc with the cheery financial forecast.
Will Saari of Tourism Timmins, put those worries to rest, however. He said improvements and costs of exhibit maintenance were all taken into account when developing the plan.
"There was $25,000 allotted in 2002 for such costs and $45,000 by year five."
Coun. Dennis Welin said the Board should explore partnerships to create comprehensive tour packages to keep people coming back year after year.
This too is in the works. Saari said partnerships are being discussed with local parties as well as neighbouring communities.
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One Year Ago Even the federal government likes Shania, as evidenced by the Human Resources Development Canada announcement which granted Timmins $450,000 to help in its efforts to build the $6 million Shania Twain Centre. The facility was built on schedule and finished in time for the July 1 opening.
Financial forecasts rosey for Shania Twain Centre and Gold Mine Tour
Financial forecasts for the tourism jewels of Timmins, the Shania Twain Centre and the Underground Gold Mine Tour, are radiating a healthy glow.
The Board of Directors for both sites are predicting a financial turnaround for the sites which, in 2001, experienced a net loss of $241,360. To do this, however, they need extra funding.
Anita Damini, vice chair of the Board, told Timmins City Council during Monday night's meeting they need $117,000 in support, up substantially from last year's $48,000.
"In order to achieve the goals discussed in this plan, the attractions will have to increase both the scope and level of service and their marketing efforts," Damini said. "The result will be an increase in the operating costs for both attractions."
Damini said in an effort to increase the visibility of both sites, as well as ensure an increase in traffic, their business plan focuses on attracting both local visitors and tourists.
"The increased number of visitations to both attractions will allow the Gold Mine Tour and the Shania Twain Centre a projected surplus of $18,350 in 2002 to $19,263 in 2006," she said. "These projections include repayment of the outstanding debt incurred by the attractions during the recent renovations and construction."
The plan forecasts a steady increase in tour ticket sales. About 12,275 tickets were sold last year, while 16,000 are expected to be sold this year and 24,050 in 2006.
Coun. Tom Laughren said the projected numbers may be too high.
"With the effect of Sept. 11 on the tourism industry, are your numbers realistic?"
Damini explained the numbers of visitors were actually a conservative estimate based on the increase in numbers in 2001.
Jack Watson, city clerk, added that if Shania Twain should visit her hometown in the next year or two, the numbers would rise even higher. He added their prices were competitive with other operations.
"I challenge you to go anywhere else and get a better deal."
Laughren also expressed concern that future improvements and maintenance costs may play havoc with the cheery financial forecast.
Will Saari of Tourism Timmins, put those worries to rest, however. He said improvements and costs of exhibit maintenance were all taken into account when developing the plan.
"There was $25,000 allotted in 2002 for such costs and $45,000 by year five."
Coun. Dennis Welin said the Board should explore partnerships to create comprehensive tour packages to keep people coming back year after year.
This too is in the works. Saari said partnerships are being discussed with local parties as well as neighbouring communities.
----------------------
One Year Ago Even the federal government likes Shania, as evidenced by the Human Resources Development Canada announcement which granted Timmins $450,000 to help in its efforts to build the $6 million Shania Twain Centre. The facility was built on schedule and finished in time for the July 1 opening.