The monastery, dedicated to Saint Peter, was founded in 1103, or shortly before, by Count Berengar I of Sulzbach together with Frederick and Otto, Counts of Kastl-Habsberg. It was dissolved in 1563 in the course of the Reformation, but re-established as a Catholic monastery in 1625. From 1636 the building was used by the Jesuits, from 1773 by the Knights Hospitallers. Dissolved again in 1803, it was the seat of the Provincial Court until 1862. From 1958 to 2006 the buildings housed a Hungarian secondary boarding school, now closed.