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These is some inconsistency between the theory and practice of the analysis of deficits in managerial competencies. Some academic literature suggests that the study of needs should be considered as gaps in competencies (Bee and Bee, 1994; Peiro, 1999), but organisations actually analyse needs as training preferences (Ford and Noe, 1987; Guthrie and Schwoerer, 1994, 1996; Tharenou, 1991). The aim of this study is to analyse technical and generic managerial competency needs and managerial training requests in order to conclude which method provides more accurate information on the real deficits in managerial capabilities. The sample was made up of 80 managers from hotels and restaurants in the Valencian Community on the Mediterranean coast of Spain. The results show, on the one hand, the existence of technical competency needs in many topics or areas of knowledge (for example, economic-financial management, marketing and market analysis) and also in generic competencies (such as control of hasty reactions in highly emotive situations). However, managers request additional training only in technical aspects, such as information technology and languages, but not in generic aspects. In any case, both methods could be considered complementary. The authors discuss implications and limitations of the study as well as directions for future research.