The Olav Thon Group
The Olav Thon Group is a collective term for the companies owned directly or indirectly by Mr. Olav Thon. The Group is mainly involved in property and hotel operations. In 2007, the Olav Thon Group had aggregate operating income of NOK 6.2 billion and performed almost 2,700 man-years of labour.
Property
The Olav Thon Group is Norway’s largest private property owner and developer. Altogether, the Group owns 420 properties in Norway and 25 abroad. In addition, the Group operates about 40 properties under long-term leases.
The Olav Thon Group is Norway’s largest owner of shopping malls and hotel buildings. The Group's property portfolio had an aggregate annual rental value of NOK 3,337 million at 1 July 2008, with a vacancy rate of 2%.
Portfolio segments:
• 59% Retail
• 18% Hotel
• 16% Offices
• 3% Residential
• 4% Other
Geographical diversification:
• 62% Greater Oslo
• 13% other metropolitan regions in Norway
• 18% other cities in Norway
• 7% Sweden, Belgium and the Netherlands
The Olav Thon Group has 70 shopping malls under ownership. In 2008, these had a total turnover of NOK 40 billion.
Hotel
The Olav Thon Group owns 52 hotel properties, offering approx. 7,800 rooms, which are marketed primarily through the Group's own hotel chain, Thon Hotels.
Thon Hotels is one of Norway’s largest hotel chains with 49 hotels/apartment hotels and has a further 8 in other countries (Belgium, the Netherlands and Sweden). Thon Hotels is the market leader in the metropolitan regions of Oslo and Bergen.
The Group also operates restaurants and pubs in Oslo, such as Scotsman and 3 Brødre.
Other operations include Unger Fabrikker AS which manufactures ingredients for the soap and cosmetics industry.