The town hosts an annual festival called the Annual Zihua Sail Fest, which raises funds for the education of disadvantaged children in Zihuatanejo. The five-day event takes place in February with more than 100 boats, some from as far away as Alaska coming into the bay. Events include cocktail parties, concerts, auctions and sailboat races, chili cook offs and street fairs. In 2009, the event raised $640,000 pesos, along with a matching grant and a donation of US$20,000 by the Rotary Club.