This paper is an outcome of a pursuit to assess the collaboration or a lack of, between academia and hospitality industry during the past 30 years. The primary objective was to investigate if there are any gaps between the academic research and hospitality industry collaboration, using a qualitative assessment of selected data for the past several years. Sources of information include: (a) all published papers in peer-reviewed hospitality journals from 1988 to 2017 and (b) a secondary systematic review of all papers (161) published in the Journal of Hospitality & Tourism Research from the year 2013–2017 for analyses of practical/managerial implications mentioned by authors. As a result of systematic assessment, six different gaps were identified which are described in detail. Finally, possible ideal collaboration between academe and hospitality industry is discussed considering the existing gaps. Possible recommendations for bridging the gaps are listed.