Business Description

Nordic Panorama Plc is the holding company of Vrådal Panorama AS company involved in the operation and development of an all seasons holiday destination in Telemark, Norway.


Vradal Panorama AS
Property development and construction of cabins
Cabin and Plot Sales
Cabin rental
Operation of winter and summer outdoor activities incl;
Ski lifts
Service facilities such as Restaurants, Bar, Ski/Bike rental, Ski School and a Shop
Boat rental, organazing hunting and fishing

The traditional ski-resort business at Vradal Panorama now includes ski rental, a ski preparation workshop, a shop and 15 ski slopes. The management of the two cafeterias situated at Vradal Panorama is outsourced.

In addition to the further development of the core ski resort business, over the last few years Vradal Panorama has expanded into property development and catering for operator-organised holidays. This expansion has seen a significant increase in profitability. As anticipated, extensive investment in modern facilities and infrastructure for the ski resort has increased demand for chalets and log cabins in the immediate vicinity of the slopes and lifts. The majority of the chalets and log cabins at Vradal Panorama have been built with ski in/out facilities or are situated within a few hundred metres walking distance of the chairlift.

As well as the operation of the Vradal Panorama resort, the principal activities of VPE and VPS are plot sales within the resort area, chalet and log cabin sales and chalet and log cabin rentals. All four activities are closely linked and contribute to the ongoing growth and sustainability of the businesses. The more plots that are sold the more chalets and log cabins that are likely to be built which, in turn, will provide a greater pool of properties for potential rental income and, potentially, more visitors.

Property development now plays a dominant part in the overall businesses of VPE and VPS, not only in terms of the profit generated from selling plots, chalets and log cabins, but also in terms of the resulting increase in the number of visitors to the resort year round, thus providing growth in the resort business.