In 2004, the Hypo Group Alpe Adria purchased the then empty property, and via its subsidiary KÄRNTNER HOLDING BETEILIGUNGS-AG (KHBAG) invested more than 120 million euros in the revitalisation, refurbishment and expansion of this internationally renowned landmark on Lake Wörthersee. The Viennese team of architects Jabornegg & Pálffy emerged as the winners of the international architects’ competition, Hamburg’s world-renowned Peter Silling was given responsibility for interior design, the renowned ESPA Group for spa design and Christie’s Great Estates Affiliates Stiller & Hohla for selling the properties.