Ontario Place megaspa company fires back after making international headlines

It's been nearly four years since residents first learned of the major players tapped to redevelop Ontario Place, the expansive lakeshore green space that for many years served as the best amusement park in Toronto, if not the entire province.

That also means it's been just as many years of drama surrounding the overhaul, as the public quickly became aware of how much of the space it would be losing to private entities, and at what cost — to taxpayers, the environment, and more.

There had been propositions to build everything from a casino and condos to a landmark Ferris wheel and public gardens on the 155-acre property, some of these ideas being understandably less popular than others.

In the end, the key brand that the provincial government selected to take over the coveted lands was Therme Group, an Austria-based spa company that will build a wellness facility that many seem to consider "a costly extravagance we'll be subsidizing forever, and which will limit the use of part of the fairgrounds-turned-park with a $40 per person entry fee.

Progressively more dismaying particulars of the province's 95-year lease deal with Therme keep coming to light as the site is levelled and prepped for construction, but in the wake of what is now years of bad press, Therme continues to fight to gain public favour.

The most recent blow came in the form of a New York Times investigation that asserted the firm "misrepresented itself, misleading the Ontario government and exaggerating its experience in its bid to secure the Toronto deal."

"Therme falsely presented itself as an industry player that operated as many as half a dozen spas in Europe, when in fact, it had built and operated just one," the bombshell piece, published last week, reads.

"As it pitched its vision for Toronto, Therme's finances appeared to be shaky. Auditors found it was losing money and had less than 1 million euros (about $1.1 million) in equity."

In response, Therme is now characterizing the coverage as "factually inaccurate," saying in an email to blogTO that it is the news outlet that is misrepresenting the brand.

"The recent New York Times article mischaracterizes the evolution of Therme Group, ignores on-the-record statements from the Wund Foundation regarding its long-standing partnership, and inaccurately suggests that Therme misrepresented itself in its Ontario Place bid," reads a statement sent from Therme's press personnel.

"The New York Times article also fails to reflect Therme's current scale, capabilities, and standing in 2025; it has been in a formalized strategic partnership with the Wund Organization since 2018, including the use of the concept and the sharing of staff and operational expertise. The partnership has enabled the development of Therme Bucharest and many similar projects in Therme's development pipeline."

The firm ends by insisting that it is "a well-capitalized global company backed by respected institutional investors and financing partners."

Still, the NYT report, countless other headline-worthy revelations over the years, and findings from the Ontario Auditor General suggest that the deal may not have been in the best interest of constituents, and certainly has not been the most transparent, nor has the project followed due process in many ways.

Given all that we've discovered about the redevelopment, including the shady moves Premier Doug Ford and his team have made to justify and progress it, it is doubtful that any amount of PR can successfully paint Therme or the entire Ontario Place revitalization in a favourable light.