EPH Group AG has obtained the building permit for an exclusive boutique hotel on a roughly 4,500-square-metre site overlooking Lake Tegernsee in Bavaria. The permit fulfills a key condition precedent in the company's February 2026 term sheet with the seller, clearing the way for the final purchase agreement to be signed shortly and for construction to begin immediately thereafter.
The project's importance extends beyond the hotel itself. The development is intended to be financed in part through proceeds from EPH Group AG's new secured corporate bond 2026/2033, which carries an up to EUR 50 million issue volume, a seven-year term and a 10 percent annual interest rate paid monthly. The bond is secured by pledges over shares in subsidiaries and affiliated companies, including the project company that will own the Lake Tegernsee hotel. The subscription period runs from 28 October to 25 November 2026, with trading on the Vienna MTF's corporates prime segment expected to start on 1 December 2026.
The permit therefore matters for two audiences. For the company, it converts a conditional acquisition into an actionable development and moves a flagship asset closer to realization. For bond investors, it reduces a critical execution risk tied to the collateral package, since the project company's shares are part of the security. The offering is being made exclusively through a securities prospectus approved by Luxembourg's CSSF on 23 October 2026 and notified to BaFin and the Austrian FMA, and investors can review the document on the company's website at www.eph-group.com or directly via the prospectus PDF. The CSSF approval does not constitute an endorsement of the securities.
The hotel is planned as a premium, design-oriented resort aimed at guests seeking individuality, tranquility and an exceptional location, and it is expected to be operated by an internationally established hotel operator. That positioning aligns with EPH Group AG's strategy of developing premium hotel properties in the DACH region with international appeal and long-term value appreciation. Founded in 2023, the Vienna-based company develops hotel projects to construction-ready stage and independently implements selected projects, working with international hotel brands for operations. It currently has a portfolio of ten projects in Austria and Germany, and its shares trade on several German exchanges, including Stuttgart, Dusseldorf, Frankfurt and Xetra.
The Lake Tegernsee permit also signals momentum for the company's broader pipeline. Because the bond proceeds are partly earmarked for this project, the milestone may support the offering's investment case while the subscription window is open. Further details about the company and its projects are available at https://eph-group.com/.
