The Olav Thon Group is owned by the Olav Thon Foundation and is primarily involved in the property and hotel business.

In 2017, Olav Thon Group's operating income amounted to around NOK 11 billion and it employed around 3,160 FTEs. The Group consists of two divisions: Thon Eiendom and Thon Hotels.

Thon Property

Thon Eiendom is Norway's leading property company and har approximately 97 shopping centres and 500 commercial properties in the portfolio.

The listed company, Olav Thon Eiendomsselskap ASA, is a part of the property division.

The property portfolio is divided into the following segments (based on rental value):

  • Retail 67%
  • Offices 14%
  • Hotels 12%
  • Other 7%

The geographical distribution of the property portfolio is as follows:

  • Oslo region 50%
  • Other larger cities in Norway 20%
  • Other towns in Norway 16%
  • Abroad 14%

the shopping centre portfolio ownedand managed by the Group consists of 86 shopping centres in Norway. Retail sales for this segment of the portfolio were NOK 64.5 billion in 2018.

The Olav Thon Group owns and manages 11 shopping centres in Sweden. Total retail sales for the portfolio were SEK 14 billion in 2018.

Thon Hotels

Thon Hotels is one of Norway’s leading hotel chains. Thon Hotels has approximately 80 hotels in Norway, Brussels and Rotterdam. Read more here.

In addition to hotel restaurants, the Group owns a number of restaurants and pubs, including Den Gamle Major and The Scotsman in Oslo.

Other operations

Other operations account for a small proportion of the Group’s income and earnings. The largest entity is the industrial company Unger Fabrikker.

Olav Thon Foundation

The Olav Thon Foundation was established in December 2013. All of the shares in Olav Thon Gruppen AS were transferred from Olav Thon to the foundation upon its establishment. The foundation's purpose is to own and operate the Olav Thon Group's business activities. The foundation also makes donations to non-profit causes.

Read more about the Olav Thon Foundation here