It was founded in 1202 by Leopold VI, Duke of Austria and Styria, as a daughter house of Heiligenkreuz Abbey.
Successive abbots acted as councillors to the rulers of Austria, and the abbey became wealthy as a result of this valuable connection.
Abbot Matthew Kollweis (1650–1695) turned the monastery into a fortress during the Turkish advance against Vienna in 1683, installing a garrison and giving shelter to a large number of fugitives.
In 1810 much of the abbey was destroyed in a fire, but was rebuilt under Abbot Johann Ladislaus Pyrker, who later became the Patriarch of Venice (1820–26) and eventually Archbishop of Eger.
This estate, the Lilienfelderhof, comprising a gothic church, manor house, and numerous other buildings, was acquired in 2006 by the Kartause Gaming Private Foundation via a 99-year leasehold.