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Gloucester's Tall Ships Festival is being put on hold for a year while building works take place in the Docks.
It had been hoped the event, which attracts thousands of people, would be held in May, but a number of projects taking place as part of the regeneration of the docks has lead to the event being postponed.
Graham Walker, Chief Executive of marketing gloucester ltd, the company responsible for the event, said:
"The 2009 Tall Ships Festival brought more than 75,000 people to the city, won silver at the South West Tourism Awards and was widely regarded as the best event ever to happen in Gloucester."
"Building works taking place in and around the docks mean that we would really struggle to deliver an event we could be proud of in May this year, and with such a great reputation to uphold following last year's successes, we felt it would be harmful to the future of the Tall Ships Festival to invite tens of thousands of visitors to an area that's in the middle of a programme of building work."
Paul James, Leader of Gloucester City Council, added:
"We've talked long and hard with the team at marketing gloucester ltd and with partners involved in the event, and in the end we all agreed that it would be in the best interests of the Tall Ships Festival to take a year out while the docks area is being upgraded."
"We intend to stage an even bigger and better event in 2011 when the building works have been completed."