Vienna-based EPH Group AG has obtained the building permit for an exclusive boutique hotel at Lake Tegernsee in Bavaria, a milestone that satisfies a key condition for the company’s planned acquisition of the hotel project. The permit, announced on October 27, 2026, clears the path for the final purchase agreement to be signed shortly, after which project implementation is expected to begin immediately.
The approximately 4,500-square-metre site is located in an elevated position with panoramic views of Lake Tegernsee. 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 run the property.
The permit’s significance extends beyond the single project. EPH Group had already reached an agreement in principle with the seller on February 26, 2026, through a term sheet, but that agreement was subject to the condition precedent of obtaining a building permit for the final hotel project. With the permit now granted, that condition has been fulfilled, reducing uncertainty for investors and allowing the company to move toward closing.
Financing for the boutique hotel is intended to come partly from proceeds of EPH Group’s new secured corporate bond 2026/2033 (ISIN: AT0000A3XVE4). The bond 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 to investors monthly. It 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 Lake Tegernsee hotel project. The subscription period is scheduled to run from October 28 to November 25, 2026, and trading in the corporates prime segment of the Vienna MTF of the Vienna Stock Exchange is expected to start on December 1, 2026.
The offering is being made exclusively through and 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 October 23, 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. Approval of the prospectus by the CSSF should not be understood as an endorsement of the securities offered, and investors are strongly advised to read the prospectus before making an investment decision in order to fully understand the potential risks and opportunities associated with investing in the securities.
For EPH Group, founded in 2023 and focused on hotel real estate in the DACH region, the Lake Tegernsee project adds to a portfolio of ten projects in Austria and Germany. The company develops hotel projects through to the construction-ready stage and independently implements selected projects, collaborating with international hotel brands for operations. Its shares have traded on the Open Market of the Stuttgart Stock Exchange since 2025 and on the Primary Market of the Dusseldorf Stock Exchange since 2026, with trading also commencing on the Open Market of the Frankfurt Stock Exchange and on Xetra in May 2026. Further information about the company and its projects is available at https://eph-group.com/.
