Wunta chairwoman Bronwen Levett would not reveal details but said there would be "some changes and hopefully positive changes so people will really embrace them".
Traders yesterday claimed it was an open secret that the Friday night festivities would be moved from Liebig Street, with some believing it was to move to Lake Pertobe.
But The Standard believes organisers are favouring a move to Flagstaff Hill for the Friday night party.
Liebig Street has been blocked to traffic and transformed into a attractive mix of food and drink stalls, live music, children's activities and night trading in previous years.
The 'Lygon on Liebig' event has raised the ire of some traders because the street is closed to traffic from early afternoon, turning away some customers.
Taco Bill's proprietor Rob Berger expressed some logistical concerns.
"With the festivities being out the front of our restaurant, it makes it a lot easier to cater for," he said yesterday.
"I just can't see us having the manpower and extra equipment to cater elsewhere, the move would not make it viable for us to participate."
The Friday night activities also provide extra patronage for businessman Jonathan Dodwell's Images restaurant.
When asked if he supported any move he commented: "I think everyone will be pretty disappointed about that."
The City Council has backed the Wunta Fiesta committee.
"We support any moves that the organising committee make to try and refresh the festival," a spokeswoman said.