The main objective of this thesis is to select the most successfully implemented business strategies, management tactics, best practices and innovations that could all be part of a winning business plan. Research focusing on hospitality strategy, operational excellence, best practices and successful implementation of innovation techniques place a strong interest among both academics and practitioners.This project aims to explore and present those critical factors such as hospitality strategies, management decisions, best practices and innovative solutions that have proved most successful for small independent hotels. In this way, it contributes to the research on strategic management of small hospitality enterprises. This paper utilizes some of the most successful theories on business strategy building a framework to propose a model of successful strategic and operational management practices. From a theoretical standpoint, the above factors play a distinctive role in defining the strategic path that the small hospitality business follows and the process that takes place to arrive at strategies, namely, the strategic planning process.The topic of the dissertation will be:“Crafting an effective Business Strategy in Hospitality: Strategies, Entrepreneurial Management, Best Practices and Innovations. The case of small hotels.”