Core investment thesis
The proposed Alpine Resort Stuhleck is a phased hospitality real-estate development comprising six apartments and seven chalets. The sponsor’s thesis rests on five elements: direct access to the ski slope, proximity to the Vienna catchment, multiple accommodation formats, an existing gastronomy operation and a summer strategy intended to reduce seasonality.
What capital is intended to build
Phase 1 · Stadl
Six guest apartments, two staff apartments and associated infrastructure. The sponsor states that the basement has already been completed with owner funds.
Phases 2–4 · Chalets
Seven chalets in terraced and semi-detached formats, planned with balconies, terraces, storage and selected sauna facilities.
Capital summary
| Use of funds | Net amount | Share |
|---|---|---|
| Phase 1 construction | €1,970,000 | 33.7% |
| Chalet phases 2–4 | €2,950,000 | 50.4% |
| External works, site protection and refurbishment | €700,000 | 12.0% |
| Interior fit-out and furnishings | €570,000 | 9.7% |
| Total projected net investment | €5,850,000 | 100% |
The individual line items in the source presentation sum to more than 100% when shown as rounded percentages; the table uses exact shares of the stated €5.85 million total.
How investors may participate
The sponsor documents describe the project economics but do not yet define a final investor instrument. A transaction could potentially be structured as secured debt, mezzanine capital, preferred equity or a joint-venture equity participation. Each structure creates materially different risk, control and return characteristics.
Secured lending
Potential fixed return and collateral package, subject to valuation, ranking, covenants and debt-service capacity.
Mezzanine
Potential coupon plus performance participation, with higher risk than senior debt and negotiated intercreditor terms.
Equity / JV
Participation in operating cash flow and asset value, with development, occupancy and exit risk.