A hole is just one of this Landola V72s problems. Im not sure of the age because the label, with the serial number, is missing, but I'm guessing at the 60s. I strung it up and it has a lovely tone, so well worth spending some time on.
It looks like the cold winters and warm interiors in Finland have been bad for the lacquer. I plan to just smooth it a bit and give it a few coats of water based lacquer to seal it, preserve the patina so to speak. Unusually the neck and soundboard are good on this, so the scruffiest guitar needs the least amount of work, The only other thing I had to do was source some more tuners, which luckily some came up on eBay a few months after I got the guitar.