This book with 12 chapters primarily aims to advance the study of family business within tourism and hospitality. Chapter 1 (introduction) addresses the questions of why study the family business and its exact nature. In Chapter 2 family business is recognized as a distinct form of entrepreneurship. The critical issues of motivation and goals are examined in Chapter 3. Chapter 4 identifies and examines the meaning of success and failure for growing business then focuses on specific challenges and cause of failure. Chapter 5 examines key challenges and issues together with strategies and actions that are actually employed or are recommended by experts to achieve a healthy balance. Chapter 6-10 contain case studies of real family businesses in this industry organized by sectors of the industry: farm-based; small hotels; resorts; tour companies; and attractions. A cross-case analysis to identify 30 key themes and commonalities is given in Chapter 11. Chapter 12 draws implications for research and theory including an analysis of gaps in the tourism and hospitality literature pertaining to family business and a set of detailed propositions that can be used to develop a theory.