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A single embedded case study design was applied to evaluate the intellectual capital of 13 hotels in the Radisson SAS Hotels and Resorts hotel chain. By using the ICAP methodology and multiple source data the study investigated the knowledge and data produced by an intellectual capital evaluation, and explored the potential relationship between intellectual capital and business performance. The results conclude that it is possible to evaluate intellectual capital in a hotel chain, and the knowledge and data from the intellectual capital evaluation provide useful information regarding the areas of identifying focal areas, resource allocation, strengths and weaknesses, benchmarking, and managing the future. In addition, the findings indicate that it is useful to evaluate a hotel's intellectual capital due to its potential relationship with business performance.