Yes / The circular economy is gaining momentum in corporate circles and European economic policies. However, its relevance and applicability to service dominated industries, such as tourism and hospitality, is poorly researched. This study investigates Scandinavian hotel operators’ understanding of the circular economy, its drivers, enablers, barriers, and value creation potential. This exploratory study gathers feedback from ten Scandinavian hotel chains managers and proposes a circular economy applicability framework to test the concept’s relevance to hotel operators. The research findings highlight respondents’ interest and expose introductory to intermediate level of understanding of the circular economy. Conditional to specific enabling levers, the research confirms the applicability and value creation potential of the circular economy to hotel operators. The research provides hotel operators with recommendations on circular economy value creation opportunities, deployment pathways and suggests future research directions.