June 27, 2014

Page W4 · Richmond Review

Friday, June 27, 2014

Diversifying the Business

Sport Tourism

Three exciting new lines of business will come to fruition at the Oval over the next two years: the much anticipated Richmond Olympic Experience (ROX) in 2015, a dedicated Yoga studio in 2014 and a prominent lobby retail business.

In 2013, the Sport Hosting Program helped secure over

The ROX – the only North American member of the Olympic Museum Network — will be a transformative exhibit experience that will inspire excellence in sport, promote community, and motivate all to dream big. The project, which has entered the construction phase, will encompass over 15,000 square feet of space throughout the Richmond Olympic Oval’s three levels, including part of its outdoor surrounding grounds. The ROX will further enhance an already world class facility and Richmond’s tourism related goal for the City to become an international destination of choice.

The new yoga business unit will see two new purpose built yoga studios, which will grow to provide over 100 yoga classes per week across multiple yoga disciplines, including hot yoga. The new retail space will support the additions of yoga and the Richmond Olympic Experience, plus ensure that participants in the Oval’s sport, health and wellness programs have access to the desired equipment and accessories needed to further enhance their enjoyment of the facility.

Friday, June 27, 2014

Richmond Review · Page W1

The Sport Hosting Program also allocates grants to assist in bidding on and staging sport events. In 2013, about $93,000 in sport hosting grants were allocated, supporting more than 30 local sport organizations.

The Sport Hosting Program is funded entirely from hotel taxes.

41 major sports events.

These events generated more than 23,500 hotel room nights for Richmond in 2013, which has an estimated direct economic benefit of $4.6 million. Millions of dollars of additional economic spinoffs are generated through local spending by organizers, visitors and participants of sport hosting events.

Major Events Held at the Oval in 2013 Harry Jerome Indoor Track Classic Judo Vancouver International Richmond Celebrates Hockey Day in Canada Judo Pacific International Millennium Cup Gymnastics Rhythmic Gymnastics Elite Canada Championship Wheelchair Rugby Vancouver Invitational Powerlifting Nationals World Fencing Grand Prix SOS Children’s Village Run Province Gran Forza Pentathlon

BC Cancer Foundation Bust a Move CAN AM Wushu Championships CrossFit Games Regionals Canada West Canadian Cancer Society Relay for Life Olympic Day Judo Canada National Championship YONEX Canada Open Badminton Tournament Richmond Raven’s Elite Girls Hockey Tournament Western Canadian Short Track Speed Skating Single Distance Championship

Secured Events | 2014+

6111 River Road Richmond BC V7C 0A2 778.296.1400

richmondoval.ca

2014 Football BC Combine 2014 Speed Skating Canada Short Track National Championship 2014 Pacific Rim Gymnastics Championships 2014 International Wheelchair Rugby Canada Cup 2014 TAFISA World Martial Arts Games 2014 Pan Am Taekwondo Championship 2014-2016 Fencing World Gran Prix 2014 Fencing Provincial Championship 2015 Western Canadian Fencing Championship 2016-2017 Taekwondo Canada National Championship

February 2014 March 2014 April 2014 June 2014 September 2014 November 2014 March 2014–16 June 2014–16 March 2015 May 2016/17

REPORT TO THE COMMUNITY ————— FOR THE YEAR —————

Page W2 · Richmond Review

Friday, June 27, 2014

Friday, June 27, 2014

Richmond Review · Page W3

Report to the Community The Richmond Olympic Oval Corporation was established by the City of Richmond to operate the Richmond Olympic Oval. This Report Card to the Community is presented to provide an update on the Oval’s progress in fulfilling its mandate to become a world-class centre for health, recreation and culture serving all members of our community.

On December 12, 2013, the Richmond Olympic Oval celebrated five years of service to the community and progress toward the goal to transition into the facility the City envisioned when we developed our bid to be a Venue City in the 2010 Olympic Winter Games. With progress being made on all four pillars of the original Oval vision – community recreation, health & wellness, high performance sport and culture & entertainment – 2013 was a year to focus on refining and diversifying the business.

HIGHLIGHTED NUMBERS Who uses the Oval?

Richmond residents account for 78% of the more than 5,000 active Oval memberships. Fifty-six Richmond-based sports groups are active in the Oval – up from 42 in 2012.

The Oval is also home to high performance training and competition for elite and emerging athletes. In 2013 there were 20,242 high performance training sessions compared to 13,864 in 2012. Additional services have been added to the Oval’s integrated athlete support team including nutritional consulting, performance testing, functional screens, sport psychology, physiological consulting; strength and conditioning program design; and a broad range of sport related medical services. Additionally, the Oval launched a short track speed skating legacy program, became an official training centre for the Women’s National Table Tennis team and reached a three-year agreement with Volleyball Canada to develop the Oval as a national, provincial and regional Training Centre. The Oval has always used guidelines of 80% community use and 20% high performance use.

The Oval is also making major contributions to community wellness by providing a diverse range of opportunities for users from all sectors of the community to enjoy the benefits of sport for life and healthy lifestyles. For example, over 1200 children enjoyed Oval Sport Camps. The Oval is also home to numerous community, cultural, consumer and business events and programs annually.

Is the Oval financially sustainable?

SEE IT ON TV! View the journey of the Richmond Olympic Oval from inception to present day at richmondoval.ca/Legacy.

How popular is the Oval?

The Oval had over 700,000 visits in 2013, a 14% increase over 2012. The Oval has welcomed more than 3.5 million visitors since it opened in 2008.

Public interest in memberships has consistently exceeded forecasts. Membership visits averaged 28,000 per month, up 10% over 2012.

The Richmond Olympic Oval Corporation has consistently exceeded financial targets. In 2013, the Corporation generated a profit of $3.69 million, which includes a $0.43 million one-time funding contribution for the mezzanine infill project. In 2013, a total of $3.60 million of the profit was transferred to the capital reserves. The Corporation has achieved a profit every year since it opened, with the exception of 2010 when public operations were temporarily suspended due to hosting of the 2010 Games.

When the City’s 2013 contribution is netted against the Corporation’s 2013 profit, the Corporation returned a net financial benefit to the City in the amount of $0.12 million.

What is the Games Operating Trust?

The Games Operating Trust was established with $110 million contributed by the federal and provincial governments, with a specific purpose to help support operating costs of selected 2010 Games facilities including the Oval. Any money paid to support venues comes from interest income, not the original principal, so that the fund is perpetual. The Corporation has received $19.53 million in Games Operating Trust funding since contributions began in 2007.

$3,595,000

Who paid to build the Oval?

Transferred to Capital Reserves

The construction cost of the Oval was primarily funded through federal and provincial funding, casino revenues and land sales. The City met its original commitment that property taxes would not be impacted by the cost of building the Oval.

“In September I had some regular blood work done.

My doctor told me the test came up positive for leukemia.

What a shock! After the news, I really didn’t want to do anything. The Oval to the rescue! The Oval staff and trainers were fantastic. I began working out and taking some classes. The support and empathy they showed went a long way to getting me back on track.”

—Gleb Novokshanoff Oval Member since 2008

20,242

HIGH PERFORMANCE WORKOUTS

700,000 ANNUAL VISITS TO THE OVAL (2013)

5,000+ % OF OVAL MEMBERS ACTIVE OVAL MEMBERS

78

ARE RICHMOND RESIDENTS

Page W2 · Richmond Review

Friday, June 27, 2014

Friday, June 27, 2014

Richmond Review · Page W3

Report to the Community The Richmond Olympic Oval Corporation was established by the City of Richmond to operate the Richmond Olympic Oval. This Report Card to the Community is presented to provide an update on the Oval’s progress in fulfilling its mandate to become a world-class centre for health, recreation and culture serving all members of our community.

On December 12, 2013, the Richmond Olympic Oval celebrated five years of service to the community and progress toward the goal to transition into the facility the City envisioned when we developed our bid to be a Venue City in the 2010 Olympic Winter Games. With progress being made on all four pillars of the original Oval vision – community recreation, health & wellness, high performance sport and culture & entertainment – 2013 was a year to focus on refining and diversifying the business.

HIGHLIGHTED NUMBERS Who uses the Oval?

Richmond residents account for 78% of the more than 5,000 active Oval memberships. Fifty-six Richmond-based sports groups are active in the Oval – up from 42 in 2012.

The Oval is also home to high performance training and competition for elite and emerging athletes. In 2013 there were 20,242 high performance training sessions compared to 13,864 in 2012. Additional services have been added to the Oval’s integrated athlete support team including nutritional consulting, performance testing, functional screens, sport psychology, physiological consulting; strength and conditioning program design; and a broad range of sport related medical services. Additionally, the Oval launched a short track speed skating legacy program, became an official training centre for the Women’s National Table Tennis team and reached a three-year agreement with Volleyball Canada to develop the Oval as a national, provincial and regional Training Centre. The Oval has always used guidelines of 80% community use and 20% high performance use.

The Oval is also making major contributions to community wellness by providing a diverse range of opportunities for users from all sectors of the community to enjoy the benefits of sport for life and healthy lifestyles. For example, over 1200 children enjoyed Oval Sport Camps. The Oval is also home to numerous community, cultural, consumer and business events and programs annually.

Is the Oval financially sustainable?

SEE IT ON TV! View the journey of the Richmond Olympic Oval from inception to present day at richmondoval.ca/Legacy.

How popular is the Oval?

The Oval had over 700,000 visits in 2013, a 14% increase over 2012. The Oval has welcomed more than 3.5 million visitors since it opened in 2008.

Public interest in memberships has consistently exceeded forecasts. Membership visits averaged 28,000 per month, up 10% over 2012.

The Richmond Olympic Oval Corporation has consistently exceeded financial targets. In 2013, the Corporation generated a profit of $3.69 million, which includes a $0.43 million one-time funding contribution for the mezzanine infill project. In 2013, a total of $3.60 million of the profit was transferred to the capital reserves. The Corporation has achieved a profit every year since it opened, with the exception of 2010 when public operations were temporarily suspended due to hosting of the 2010 Games.

When the City’s 2013 contribution is netted against the Corporation’s 2013 profit, the Corporation returned a net financial benefit to the City in the amount of $0.12 million.

What is the Games Operating Trust?

The Games Operating Trust was established with $110 million contributed by the federal and provincial governments, with a specific purpose to help support operating costs of selected 2010 Games facilities including the Oval. Any money paid to support venues comes from interest income, not the original principal, so that the fund is perpetual. The Corporation has received $19.53 million in Games Operating Trust funding since contributions began in 2007.

$3,595,000

Who paid to build the Oval?

Transferred to Capital Reserves

The construction cost of the Oval was primarily funded through federal and provincial funding, casino revenues and land sales. The City met its original commitment that property taxes would not be impacted by the cost of building the Oval.

“In September I had some regular blood work done.

My doctor told me the test came up positive for leukemia.

What a shock! After the news, I really didn’t want to do anything. The Oval to the rescue! The Oval staff and trainers were fantastic. I began working out and taking some classes. The support and empathy they showed went a long way to getting me back on track.”

—Gleb Novokshanoff Oval Member since 2008

20,242

HIGH PERFORMANCE WORKOUTS

700,000 ANNUAL VISITS TO THE OVAL (2013)

5,000+ % OF OVAL MEMBERS ACTIVE OVAL MEMBERS

78

ARE RICHMOND RESIDENTS

Page W4 · Richmond Review

Friday, June 27, 2014

Diversifying the Business

Sport Tourism

Three exciting new lines of business will come to fruition at the Oval over the next two years: the much anticipated Richmond Olympic Experience (ROX) in 2015, a dedicated Yoga studio in 2014 and a prominent lobby retail business.

In 2013, the Sport Hosting Program helped secure over

The ROX – the only North American member of the Olympic Museum Network — will be a transformative exhibit experience that will inspire excellence in sport, promote community, and motivate all to dream big. The project, which has entered the construction phase, will encompass over 15,000 square feet of space throughout the Richmond Olympic Oval’s three levels, including part of its outdoor surrounding grounds. The ROX will further enhance an already world class facility and Richmond’s tourism related goal for the City to become an international destination of choice.

The new yoga business unit will see two new purpose built yoga studios, which will grow to provide over 100 yoga classes per week across multiple yoga disciplines, including hot yoga. The new retail space will support the additions of yoga and the Richmond Olympic Experience, plus ensure that participants in the Oval’s sport, health and wellness programs have access to the desired equipment and accessories needed to further enhance their enjoyment of the facility.

Friday, June 27, 2014

Richmond Review · Page W1

The Sport Hosting Program also allocates grants to assist in bidding on and staging sport events. In 2013, about $93,000 in sport hosting grants were allocated, supporting more than 30 local sport organizations.

The Sport Hosting Program is funded entirely from hotel taxes.

41 major sports events.

These events generated more than 23,500 hotel room nights for Richmond in 2013, which has an estimated direct economic benefit of $4.6 million. Millions of dollars of additional economic spinoffs are generated through local spending by organizers, visitors and participants of sport hosting events.

Major Events Held at the Oval in 2013 Harry Jerome Indoor Track Classic Judo Vancouver International Richmond Celebrates Hockey Day in Canada Judo Pacific International Millennium Cup Gymnastics Rhythmic Gymnastics Elite Canada Championship Wheelchair Rugby Vancouver Invitational Powerlifting Nationals World Fencing Grand Prix SOS Children’s Village Run Province Gran Forza Pentathlon

BC Cancer Foundation Bust a Move CAN AM Wushu Championships CrossFit Games Regionals Canada West Canadian Cancer Society Relay for Life Olympic Day Judo Canada National Championship YONEX Canada Open Badminton Tournament Richmond Raven’s Elite Girls Hockey Tournament Western Canadian Short Track Speed Skating Single Distance Championship

Secured Events | 2014+

6111 River Road Richmond BC V7C 0A2 778.296.1400

richmondoval.ca

2014 Football BC Combine 2014 Speed Skating Canada Short Track National Championship 2014 Pacific Rim Gymnastics Championships 2014 International Wheelchair Rugby Canada Cup 2014 TAFISA World Martial Arts Games 2014 Pan Am Taekwondo Championship 2014-2016 Fencing World Gran Prix 2014 Fencing Provincial Championship 2015 Western Canadian Fencing Championship 2016-2017 Taekwondo Canada National Championship

February 2014 March 2014 April 2014 June 2014 September 2014 November 2014 March 2014–16 June 2014–16 March 2015 May 2016/17

REPORT TO THE COMMUNITY ————— FOR THE YEAR —————