The connection between educational institutions and tourism organizations is of great importance in the time of a turbulent and competitive labor market. The labor market requires employees with knowledge and high skills that can be used in everyday work. Human capital is a building block of a sustainable, competitive, and innovative tourism organization. Retention of employees with key knowledge, experience, and skills and the transfer of that knowledge to new employees, when resources are limited, is becoming of great importance. Mentoring is a learning mechanism where a process of social participation results in the transfer of knowledge and skills. Accordingly, the aim of this chapter is to suggest a mentoring framework, taking into account the different interested parties: educational institutions, tourism enterprises, mentors, and students. The results of this chapter could be used for improvement of the existing mentoring practice.