Wenaasgruppen is an investment company that has investments in hotel properties, shipping, alpine ski resorts and sports and leisure equipment. In addition, asset management is an important business activity for the Group.

Hotel properties
With 17 hotel properties, 5,597 rooms and annual leasing revenue of approx. NOK 600 million, Wenaasgruppen is one of the largest hotel property companies in Scandinavia. The Group has one hotel, with a total of 270 rooms, under construction in St. Petersburg, which will be completed in the autumn of 2009. The Group’s strategy is to own, lease and operate hotel properties located in major cities, with good locations and more than 150 rooms. The hotels should be quality and service leaders within their segments.

Shipping
The business concept is to buy interests in ships that are preferably leased to solid operators on long-term charters. The return on equity, based on conservative residual ship value, should be a minimum of 18%.

Alpine ski resorts
Wenaasgruppen owns 90.1% of the shares in Ski Norway AS, which at the end of the year owned Bjorli Skisenter AS and Vassfjellet Skiheiser AS.

Sports and leisure equipment
Through Wenaas Sport og Fritid AS, Wenaasgruppen has ambitions to become one of the leading providers of sports and leisure equipment in Norway. Wenaas Sport og Fritid will function as a wholesaler/manufacturer of strong international and national brands. The company will have a broad scope and be a leader in terms of product range, marketing, logistics and customer service.

Asset Management
The Group’s available liquidity should be invested seeking the highest possible return without assuming undue risk. Assets may be invested in solid, listed industrial and financial companies providing a return in the form of dividends and capital appreciation. In addition, some of the assets may be invested in high yield bonds from solid companies, at good interest rates. Further liquid assets will be invested in the fixed income market, seeking the highest possible yield.