The main aim of the study is to determine, assess, and compare three different viewpoints of hotel managers in Prague, educators, and bachelor students from IHM and evaluate their expectations and perceptions concerning crucial competencies necessary for hotel entry-level managerial positions [2]. Surveys were compiled in order to collect data from hotel managers and students. In addition, the survey prepared for students examined their perceptions regarding the contribution of the hospitality management (HM) program at IHM to development of such important competencies. A total of thirty-two hotel managers and twenty-six students participated in this study and revealed their expectations. The results of this study indicated some discrepancies between current expectations of the hotel industry and expectations of educators at IHM. The findings of the study may be possibly valid and applicable to other hospitality management programs [17] in the Czech Republic or further close countries and to other graduate students since expectations of the Czech hotel industry may be comparable to them. A survey research method was used in order to identify the expectations of hotel industry managers and bachelor students. The study besides seeks to find out whether curriculum [11], of IHM hospitality management program is able to meet the current demands of the hospitality industry and its hotel managers in Prague and to satisfy and enhance the prospects of students. Moreover, the study should be of value to all aforementioned stakeholders.