A prerequisite for attaining the strategic objectives of the tourism industry in Slovakia is the continuous improvement of services provided to clients, gradual expansion of the structure of offered services and the constant innovation and modernization of facilities, which provide these services. Innovation and innovation management are the tools that enable companies operating in the tourism industry to optimally respond to constant changes in the external environment and to internal and external opportunities, namely by using new ideas and practices. The implementation of innovation and innovation management ultimately contributes to the overall development of services on offer in the tourism industry and additionally promotes these services. More efficient use of the potential opportunities in the tourism industry in Slovakia has a number of advantages, significantly the elimination of regional disparities and the creation of new jobs, which further stimulates employment. Innovation management and innovation in the tourism industry is one of the methods which fully unlocks the potential of the facilities operating in Slovakia and is an essential prerequisite for business success. At the same time it sparks a domino effect in tourism, as one good innovative idea creates opportunities for repeat business and for related services. Innovative application is closely related to the promotion of the country and the region both domestically and internationally. A comprehensive and active promotion strategy for tourism is a prerequisite for success. Slovakia presents massive potential in terms of strategic location and natural beauty, however the standard and innovation of services is falling behind, especially when compared with foreign competitors.