The head of the Ellerslie International Flower Show says he has no regrets about moving the event to Christchurch, despite the South Island city canning the festival.
The show moved from Auckland to the Garden City in 2007, costing ratepayers $3 million.
In May this year, a report to the Christchurch City Council revealed that this year's show lost $516,000, while in 2013 it lost over $300,000.
The council said on Monday it can't justify spending any more and the show won't be held in 2015.
Councillors have agreed the management contract with Flower Show Management Limited Events would not be renewed, effective from Thursday.
The council would pay management fees owed to 31 May, but no other compensation or early termination fees are payable. It said it was working towards making the event financially viable in 2016.
The show's managing director, David Mee, told Radio New Zealand's Checkpoint programme that Christchurch was always going to be a tough host city after recent damaging earthquakes.
Mr Mee said the show has faced challenges getting the money needed to break even - even without the council's investment.
However, he said Christchurch also pulled in higher percentages of locals than most of the flower shows around the world.