近年來臺灣的民宿發展迅速，這些民宿不但提供遊客住宿場所，而且提供不同的旅遊行程服務，結合了住宿、餐飲與遊憩等功能，形成了一種新興的旅遊方式。然而，隨著各種民宿成立，競爭逐漸激烈，如何掌握經營關鍵成功因素，遂成爲一重要的研究議題。本研究以資源基礎理論觀點，運用個案研究方法，探討民宿經營關鍵成功因素。首先以住宿率與再宿率選擇個案民宿，接著設計訪談大綱，進行深度訪談與實地觀察，再來根據訪談內容進行分析，整理歸納個案民宿的關鍵成功因素，分析結果發現民宿經營關鍵成功因素包括資產與專長能力兩大類，且在民宿發展過程中，資產類的角色比專長能力重要，最後提出結論與建議，以供業者在經營管理上之參考。

Homestays developed quickly in recent years in Taiwan. They not only provide places for stay, but also provide different service of tour. They integrate with many functions such as places for stay, foods, and travel to become a new traveling pattern. However, the establishing of many homestays results in the pressure of competition. It is an important research topics that how to grasp the key success factors. This study is based on resource based theory and using case study method to find the key success factors of homestay. First, this study selected the cases of homestays according to the ratio of stay and the ratio of restay. Second, the interview questionnaire was designed to interview the owners of homestays deeply and to visit homestays. Third, the content of interview questionnaire was analyzed to generate the key success factors of homestay. The key success factors of homestay contain assets and management skills. Assets are more important than management skills in the developing process of homestays. Finally, some implications and suggestions offered for the owners of homestays based on the results.