Aurelio Pensabene

Partner | International Tax and Transaction Services (ITTS) – EY

Partner within EY’s International Tax and Transaction Services (ITTS) practice in Milan and experienced tax advisor for the Hospitality & Leisure sector in Italy. Aurelio advises international hotel investors, sovereign and institutional funds, developers and operators on the tax structuring of hotels, resorts, serviced apartments,
branded residences and mixed-use hospitality schemes – across the full asset lifecycle, from acquisition and fund formation through to operation, refinancing, repositioning and exit.
He focuses on the tax dynamics that are specific to hospitality assets – OpCo/PropCo separation, hotel
management, lease and franchise agreements (fixed and variable rent), VAT and IMU treatment of hotel real estate, and the design of cross-border platforms deploying capital into Italian hospitality. Aurelio regularly leads multi-jurisdictional teams to deliver end-to-end structuring, due diligence and tax risk-management solutions to owners, operators and lenders in the sector.