Purpose: Hotels spend millions of dollars every year on recruitment processes. Nevertheless, employee retention rate has not been encouraging among hotels in Ghana. This paper therefore assessed the factors influencing employee retention in 3-star hotels in New Juaben North Municipality of Ghana. Methodology: The explanatory research design was employed, and a representative sample of 102 employees were randomly selected and included in this study. A structured questionnaire was used to collect data for the analysis. Multiple regression models were used to estimate hypothesised unadjusted and adjusted relationships between employee retention and potential retention factors – training and development, wages and compensation, performance appraisal, work-life balance, job satisfaction and job security. Findings: First, adjustment with the factors showed significant effects of training and development, wages and compensation, performance appraisal, work-life balance, job satisfaction and job security on employee retention. Next, control for employees’ characteristics revealed significant relationships of training and development, wages and compensation, performance appraisal, work-life balance, job satisfaction and job security with employee retention. Recommendation: The findings suggested that improvement in these explanatory factors would result in high employee retention rate in 3-star hotels in the New Juaben North Municipality. Thus, managements of these hotels should channel efforts into improving work conditions of their employees.