The purpose of this study is to evaluate the competition perception of hotel managers within the framework of resource-based business capabilities. A qualitative research method that allows in-depth examination of the competition understanding of hotel managers was applied between 01.10.2019 and 24.10.2019. According to the results of the content analysis of the hotel managers' opinions about competition, the themes of "competitor's business structure and facilities", "monitoring the external environment", "industry experience of the manager", "using statistical data", "price reduction" and "service quality" were obtained. When the managers' perspectives on the relationship between distinctive abilities and competition were evaluated, it was seen that themes as "information technologies capability", "customer relationship capability", "hotel's employment policy" and "employee turnover" rate were formed. When the content analysis conducted according to the innovative product and service understanding of the managers was evaluated, the use of online channels and different service concept themes were obtained. The national and international market themes were obtained according to the managers' evaluations on differentiation strategies. Differentiation strategy for international markets and cost-oriented differentiation strategy weren't evaluated by most hotel managers. The findings from the study are expected to contribute to RBV-based competition studies for the hospitality industry. This article is a revised version of the article referenced "Dönbak, E. R. (2020). Hotel Managers' Consciousness toward Competition and Its Strategies. Journal of Hospitality and Tourism Issues, 2(2), 143-160".