Through the evolution of the economic environment, the continuous adaptability of companies has become a prerequisite for their long-term survival. Particularly in industries with less strong growth potential, businesses must develop strategies to gain competitive advantages. Christine R. Schneider examines the question of success factors in the hospitality industry from the perspective of industrial economics theory, resource-based theory, and entrepreneurship theory, with a special focus on the human and social capital of the entrepreneur. Starting from a strategic management and entrepreneurship perspective, the author develops and tests a theoretical model within the framework of a quantitative study of St. Gallen hospitality businesses. The author identifies the entrepreneur, a differentiation strategy, and.