Developing a unique set of Core Competencies should be of primary concern to any business operating in the hospitality industry. This paper presents a framework for competency development, which is based on the views of both educators and industry professionals. By integrating knowledge from a variety of contexts and countries around the world, a set of generic core competencies has been derived via a systematic classification process. Specifically, forty competency statements have been posited taking the form of questions given to both educators and industry professionals. Subsequently, the responses have been analysed and, using taxonomy, a framework of seven core competency categories has been developed. The competency categories involve aspects of Human Resource Management (HRM); Professional Image; Operational Knowledge; Leadership; Communication; Information Management; and People Relationship Management. Specific competency items include essential capabilities for the hospitality industry such as: communicating effectively with clients and customers, identifying and solving problems, making decisions under pressure or in a crisis situation, and understanding the factors that influence the profitability of the hospitality enterprise. The proposed framework is meant to serve as a basis for developing a set of core competencies suitable for creating a sustainable competitive advantage for the hospitality industry. Further, the framework would be useful to educators, professionals and graduate students as a guide for cultivating a set of key competencies for success in the hospitality sector.