The article examines the impact of capital structure (CS) on financial performance (FP) of hotel firms. A sample size of 72 of 3 - 5 star hotel firms inHanoi city, Vietnam in a period of 3 years from 2016 to 2019 has been takento analyze. Firm FP is measured by ROA, ROE, ROS. The study which appliesquantitative methods along with the support of EVIEWS software pointsout a statistical significance relationship. Firstly, the CS has a contrariwiseimpact on ROA but no effect on ROE and ROS. Secondly, among controlvariables (asset structure, expenditure ratio, revenue), the expenditure ratiois the only one showing a contrariwise impact on ROS and the rest has nostatistical significance.