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The purpose of this paper is to present the development of a business excellence model applicable in the hospitality industry.

Two surveys using questionnaires were conducted: the first one for the development of the model's criteria and sub‐criteria and the second one for the assessment of the criteria and sub‐criteria weights. The model was tested on a number of Greek high‐class hotels.

Compared with other business excellence models the proposed model includes criteria and sub‐criteria that are more applicable to hotels. The model studies the factors that drive excellence in the hotel sector as well as the importance of these factors as they have been defined by the managers of the hotels. The implementation of the model in a number of high‐class Greek hotels shows its applicability and suitability to be used as a benchmarking system.

Time limitations, as the project was co‐funded by the European Union, have limited the implementation of the proposed business excellence model to a small number of Greek hotels in the area of Crete.

The critical success factors for high‐class hotels have been identified and a business excellence model applicable in the hospitality sector has been developed.

The generic nature of business excellence models and arbitrary approaches followed by organizations to achieve excellence has triggered new approaches to attain excellence; one such approach is to have country- and industry-specific model. World Energy Council has developed an Energy Trilemma Index, which gives relative energy performances of almost 125 countries based on comprehensive energy matrix (affordability, availability and environment impact). Presently, India ranks at 91 as per this index thereby making this sector prudent case for specific excellence model for sector’s overall excellence. The purpose of this paper is to propose European Foundation for Quality Management (EFQM) model with Indian thermal power generating sector specific factors.

The study followed a research approach that combines literature review, qualitative and quantitative techniques. This includes analysis of the literature related to the subject, qualitative analysis to validate gap areas around EFQM model and identify factors critical to Indian thermal power sector. Quantitative analysis was done using SmartPLS 3.2.7 software for structural equation modeling–partial least square.

The research proposes inclusion of Indian thermal power generating sector specific factors in EFQM model, which in turn portrays balanced set of results and corresponding enablers for achieving excellence in the sector. The biggest take away will be sustained and effective contribution toward society and environment by this sector.

This is first of its kind study in India and globally for thermal power generating sector. It will trigger quality consciousness among power generating companies. For India, such excellence mission will definitely help nation to improve efforts toward 24×7 electricity and electricity to all.