Different programs designed to develop rural areas in Europe grant significant funds to support several economic activities. In particular, rural lodging establishments have been key recipients of many development investments. Therefore, identifying the determinants of business success for these establishments is important for authorities, who must allocate their funding accordingly. The establishments themselves can benefit from such knowledge as well. This article examines the influence of three general factors related to the business and the entrepreneur—product, knowledge, and promotional tools—on performance, measured as occupancy, prices, sales, and profits. A survey conducted in a rural Spanish region produces results that largely confirm the proposed hypotheses.