Early Life
Lars Wenaas was born on April 19, 1951, in Rauma, Norway. His family's entrepreneurial journey began in 1931 when his grandfather started a clothing factory in Måndalen. Lars, along with his father Sigmund and brother Nils, later joined the family business in the 1970s.
Rise to Success
In the late 1970s, Lars contributed to the growth of Sigmund Wenaas Konfeksjonsfabrikk AS, transforming it into a major player in the workwear industry. The company expanded, built modern factories, and acquired several textile companies. In the 1990s, the focus shifted to hotel properties. Wenaasgruppen purchased and developed numerous hotels, including notable properties like the Radisson Blu Plaza Hotel in Oslo and several Radisson hotels in Copenhagen. From 1990 to 2020, Wenaasgruppen acquired or developed 58 hotels.
Key Business Strategies
Wenaas's success is attributed to his strategic investments and keen understanding of the market. He expanded the family business by acquiring several properties. A new strategy was adopted in 2015, focusing on hotels with over 200 rooms in major European cities. Wenaasgruppen also manages a portfolio of listed stocks and bonds through its financial investment arm. The group sold its Russian hotel portfolio in March 2023.
Philanthropy
While specific philanthropy amounts are unavailable, Wenaas's business decisions and investments indicate a focus on long-term value and community impact, particularly within the tourism sector.
