EPH Group AG, a Vienna-based investment and development company specializing in hotel real estate in the DACH region, has been granted a building permit for an exclusive boutique hotel at Lake Tegernsee in Bavaria. The approximately 4,500-square-metre site is located in an elevated position with panoramic views of the lake. The project envisions a premium, design-oriented resort aimed primarily at discerning guests who value individuality, tranquility, and an exceptional location. An internationally established hotel operator is expected to manage the property.
The permit marks a critical milestone for EPH Group AG. On 26 February 2026, the company reached an agreement in principle with the seller regarding the acquisition of the hotel project through a term sheet. That agreement was subject to the condition precedent of obtaining a building permit for the final hotel project. With the permit now granted, this key condition has been fulfilled. The final purchase agreement is expected to be signed shortly, followed by the immediate commencement of project implementation.
The boutique hotel is intended to be financed in part through proceeds from the new secured corporate bond 2026/2033 (ISIN: AT0000A3XVE4). The bond has a total issue volume of up to EUR 50 million, a term of seven years, and offers an annual interest rate of 10 percent. Interest payments are distributed to investors monthly. The bond is secured by pledges over shares in subsidiaries and affiliated companies of EPH Group AG, including shares in the project company that will become the owner of the hotel project at Lake Tegernsee. The subscription period is scheduled to run from 28 October to 25 November 2026. Trading in the corporates prime segment of the Vienna MTF of the Vienna Stock Exchange is expected to commence on 1 December 2026.
This announcement matters for investors and the hospitality industry because it validates EPH Group AG's development pipeline and provides a concrete use of proceeds for its bond offering. The permitting milestone reduces regulatory uncertainty for the Lake Tegernsee project, which is positioned to attract high-end travelers and potentially boost luxury tourism in the region. For bondholders, the pledge of shares in the project company offers a security interest tied to the hotel's success. The public offering of the bonds is made exclusively through and on the basis of the securities prospectus published on the issuer's website, www.eph-group.com, which was approved by the Luxembourg financial supervisory authority (CSSF) on 23 October 2026 and notified to the German Federal Financial Supervisory Authority (BaFin) and the Austrian Financial Market Authority (FMA). The prospectus, available at https://eph-group.com/assets/wertpapierprospekt-anleihe-2026-2033.pdf, contains the final terms and conditions. Investors are strongly advised to read the prospectus before making an investment decision to fully understand the potential risks and opportunities.
Founded in 2023, EPH Group AG develops hotel projects through to the construction-ready stage and independently implements selected projects. It collaborates with international hotel brands for operations, aiming to develop premium hotel properties with international positioning and long-term value appreciation potential. With a current portfolio of ten projects in Austria and Germany, the company has built an attractive project pipeline in a short period. Its shares have traded on the Open Market of the Stuttgart Stock Exchange since 2025, on the Primary Market of the Dusseldorf Stock Exchange since 2026, and on the Open Market of the Frankfurt Stock Exchange and Xetra since May 2026. Further information is available at https://eph-group.com/.
