Due to the dynamism and complexity of the competitive environment firms must respond flexibly and, in this context, innovation is an essential capability to be able to respond to the existing demands. Together with innovation, the tourism industry plays a fundamental role in the economy of many countries due to its contribution to GDP and job creation. In the current global environment, in which tourism companies, specifically hotels firms, try to ensure their long-term continuity and survival, innovation is seen as an important capability to increase their competitiveness. Moreover, in the scientific literature, several precursors of the innovation capability in the hotel industry have been identified. Taking into account these ideas, the main purpose of this research is to develop an empirical model that analyses the relationship between human capital, innovation capability and performance in hotel firms. After a thorough review of the literature, a theorical model is developed and seven hypotheses are established, which are tested through PLS on a population of 322 Spanish hotels with at least three stars. Findings obtained have allowed us to accept the proposed hypotheses and answer the formulated research questions. Firstly, it has been confirmed that the innovation capability of hotels positively influences their competitiveness. Secondly, it is also confirmed that the flexibility and qualifications of human resources are antecedents of innovation capability and the competitiveness of hotels. Finally, the results verify that the innovation capability of the hotels analysed acts as a partial and complementary mediating variable between human capital and their competitiveness.