Another limitation is the findings were aggregated; no specific company or the sector of the industry was examined separately. Therefore, the results do not provide any specific information on individual companies that are being viewed as successful in their respective industries or on a specific sector of the hospitality industry. It is true the success factors could be quite different for a small local restaurant and a big hotel chain. Future studies should include looking at how the success factors presented in this research contribute to the financial performance of specific companies, large or small, viewed as being successful in their respective industries. In addition, replication of this study with specific hospitality segments or other business entities is needed to test the reliability and validity of the findings and to further refine the theory.