Purpose The purpose of this paper is to propose and test an integrated model focusing on the drivers and consequences of intellectual capital in the context of the hotel industry. Design/methodology/approach A quantitative study was conducted, including 156 hotels located in Iran. Structural equation modeling examines the validity of constructs and path relationships. Findings The results of the PLS-SEM analysis provided three findings as follows: the three dimensions of social capital, namely the structural, relational, and cognitive social capital, had positive effects on knowledge sharing; knowledge sharing had positive effects on three components of intellectual capital (human capital, structural capital and relational capital); and intellectual capital dimensions, which in turn, lead to innovation. Originality/value The combination of a developing country context and the significance of social capital, knowledge sharing, intellectual capital and innovation in hotel industry enhance the contextual contribution of the paper.