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As management-level turnover is increasing rapidly, one of the major challenges for the hospitality industry is to retain highly educated and highly skilled employees. As the psychological contract approach to the employment relationship had not been investigated with regard to the hospitality industry, it became the subject of this study. The results demonstrate that psychological contract measures, in particular job content, can explain why there is a substantial amount of variance in intention among highly educated hotel employees with regard to leaving the organization, especially when the mediating role of affective commitment is taken into account. In this paper, managerial implications are discussed, and recommendations for further research are made.