There are new owners now for the Vancouver Aquarium in B.C. and that is a U.S. based theme-park company that will reportedly be saving the venue from closure.
They are going to have 100% ownership, the Herschend Enterprises U.S. based theme park company. The Vancouver Aquarium has been around for over 64 years now and there is hope that this move of selling is going to ensure many more years to come for the facility.
It’s reported that the aquarium had been tackling bankruptcy and this was the final solution.
As well, through the pandemic the venue has been closed for some time and that has caused the aquarium in Vancouver to lose a great deal of business as a result of COVID-19. They were also trying to stay open with limited capacity and suspected that soon they would run out of cash.
Their operating costs for the aquarium are roughly $1 million per day and with that limited capacity and business loss from COVID-19 etc, they just couldn’t keep up.
The move for Ocean Wise Conservation Association to sell to the U.S. based theme park company is one that they say saves the aquarium from having to close for good.
They have seen severe financial challenges since COVID-19 hit last year and only opened thanks to previous emergency funds from the government. The government reportedly gave them millions to try and fend off bankruptcy.
This move was an unpopular one with some locals who petitioned against any bailout being given to the company.
One petition managed to gather over 1k signatures who expressed discontent with the move to give the company millions. There were also some against the bailout who also rallied publicly against the move too.
The Vancouver Aquarium is one of the most popular tourism destinations in the region and it is also very popular with locals as well. Thousands of people visit the aquarium each year, though the rate of visitors has declined because of COVID-19. When the ‘new normal ‘arrives we can expect that it will go right back up to where it used to be, perhaps even outperform and get even better.
While there were no guests coming in from COVID-19 and that temporary closure, the Vancouver Aquarium had relied heavily on donations and organization savings, they also had to use government funding too both provincial and federal.
At the end they couldn’t find a solution that didn’t result in selling and now we see that the move has been made, just announced this week. Many in Vancouver will no doubt be happy to know that the Vancouver Aquarium isn’t going anywhere, at least not for now.