Pasadena Convention Center, Ice Skating Center Revenues Expected to Jump Back Pre-Pandemic Levels in 2023

The Pasadena Center Operating Company (PCOC) has raised its revenue forecast for fiscal year 2023, as it remains optimistic that the operations of Pasadena Convention Center and other facilities will return to pre-pandemic levels next year.

At the Economic Development and Technology Committee meeting the PCOC’s 2023 budget on Tuesday, May 3, representatives of the PCOC, a nonprofit corporation formed by the city to manage the Pasadena Convention Center, the Pasadena Civic Auditorium, the Pasadena Convention & Visitors Bureau, and the Pasadena Ice Skating Center, said they are expecting a total revenue of $24.6 million for fiscal year 2023, over $4 million higher than last fiscal year’s projected revenue and close to the revenue generated in 2019, which is $25 million.

The PCOC is funded by earned revenue from its facilities, proceeds from a Tourism Business Improvement District (TBID) that is funded by a hotel/motel assessment, and a portion of the hotel/motel Transient Occupancy Tax, (TOT) according to the city’s website.

Michael Ross, PCOC Chief Executive Officer said of the total expected revenue for the next year, $10.2 million is expected to come from the Convention Center, Civic Auditorium, parking garage and Ice Skating Center. The figure is $3 million higher than the 2022 forecast.

The Convention Center and Civic Auditorium reopened to the public in June 2021 while the Ice Skating Center reopened in April 2021. During FY 2021, the Convention Center and Civic Auditorium generated $1.1 million in revenue while the Ice Skating Center brought in $264,000.

According to Ross, the PCOC will host 22 conventions in FY 2023. For the next fiscal year, the Convention Center and Civic Auditorium are expected to generate a revenue of $6.3 million – $2 million higher than the 2022 forecast.

The facilities brought $6.9 million in revenue in 2019.

The PCOC is hoping that the ice skating revenues will even outpace the 2019 levels.

“The parking garage will be back to the 2019 levels of $1.2 million and the Ice Skating Center, we believe, will outpace 2019 and it is primarily due to people wanting to get back into ice skating and also we got a bump from the olympics that happens every few years,” said Ross.

According to Ross, TOTT and TBID funding is also anticipated to grow by 35% next year.

The PCOC is expecting to receive $10.8 million in TOT funding, outpacing what was recorded in 2019, which is $10.2 million, and $3.6 million in TBID funds.

While the PCOC is expecting pre-pandemic revenues, it is also expecting that the expenses for FY 2023 will be slightly higher than pre-pandemic levels.

“Inflation, minimum wage is going up, we’re hoping to maintain somewhere really close to 2019,” said Ross. “The Ice Skating Center, the expenses are up, primarily due to the increase in minimum wage.”

The PCOC is expecting to spend a total of $24.2 million for FY 2023. It spent $23.9 million in FY 2019.