EPH Group AG, a Vienna-based hotel real estate developer, announced that the building permit for its exclusive boutique hotel project at Lake Tegernsee in Bavaria has been granted. The approximately 4,500-square-metre site, located in an elevated position with panoramic views of the lake, is slated for a premium, design-oriented resort aimed at discerning guests seeking individuality, tranquility, and an exceptional location. The hotel is expected to be operated by an internationally established hotel operator.
The permit represents a critical milestone because the company’s agreement in principle to acquire the project, reached on 26 February 2026 through a term sheet, was subject to the condition precedent of obtaining a building permit for the final hotel project. With the permit now granted, that key condition has been fulfilled, and the final purchase agreement is expected to be signed shortly, followed by immediate commencement of project implementation.
The project will be financed in part through proceeds from EPH Group AG’s new secured corporate bond 2026/2033 (ISIN: AT0000A3XVE4), which has a total issue volume of up to EUR 50 million, a seven-year term, and an annual interest rate of 10 percent, with interest paid monthly to investors. The bond is secured by pledges over shares in subsidiaries and affiliated companies, including shares in the project company that will own the Lake Tegernsee hotel. The subscription period is scheduled from 28 October to 25 November 2026, and trading on the corporates prime segment of the Vienna MTF of the Vienna Stock Exchange is expected to begin on 1 December 2026.
The offering is being made exclusively on the basis of a 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 BaFin and the FMA. The prospectus, available at https://eph-group.com/assets/wertpapierprospekt-anleihe-2026-2033.pdf, contains the final terms and conditions and should be read by investors before making any investment decision. Approval by the CSSF does not constitute an endorsement of the securities.
For EPH Group AG, founded in 2023, the Lake Tegernsee project adds to a portfolio of ten hotel projects in Austria and Germany. The company specializes in hotel real estate in the DACH region, developing projects to construction-ready stage and implementing selected projects independently, with a focus on premium properties with international positioning and long-term value appreciation. Its shares trade on several German stock exchanges, including the Open Market of the Stuttgart Stock Exchange since 2025, the Primary Market of the Dusseldorf Stock Exchange since 2026, and the Open Market of the Frankfurt Stock Exchange and Xetra since May 2026. Further information is available at https://eph-group.com/.
