The Olav Thon Group is a collective name for all operations and companies where Olav Thon is majority owner. The Group is primarily involved in property and hotel operations. In 2010 the Group traded for NOK 7.3 billion, and at the turn of the year employed almost 2,600 person-years. The Group is split into two divisions: Thon Eiendom and Thon Hotels.
Thon Eiendom
The Group owns about 440 properties in Norway and 25 abroad. In addition, about 40 properties are operated on long-term lease agreements. As at 1 January 2011 the (theoretical) rental income value was NOK 3,650 million.
The breakdown of the property portfolio by rental value is as follows
- Retail property: 62%
- Office property: 15%
- Hotel property: 15%
- Other properties: 8%
The geographical breakdown of the portfolio is as follows:
- The Oslo region: 60%
- Other cities in Norway: 15%
- Other towns in Norway: 18%
- Other countries: 7%
In 2010 the total retail turnover in the Group's 80 shopping malls (owned/managed) was NOK 55 billion, an increase of 25% from the previous year.
Thon Hotels
Thon Hotels is one of Norway’s leading hotel chains which at the year-end had 61 hotels (including seven external franchise hotels) with 8,700 rooms throughout Norway and 1,300 rooms distributed among six hotels in Belgium, one in the Netherlands and one in Sweden.
Thon Hotels is market leader in Oslo and Bergen and its primary focus is the business traveller segment.
In addition to the restaurants and bars in the hotels, the Group also runs several other eating establishments, including the Scotsman, Tre Brødre and Tostrup Uteservering in Oslo.
Other operations
Other operations account for a small part of the Group's income and profits. The largest units are the industrial enterprise Unger Fabrikker and the wholesale firm Conrad Langaard.