Tourism is a rapidly growing industry, and the need for management and promotion through the creation of a specialized body is an essential step. Destination Management Organizations, in short DMOs, are called upon to highlight the specific characteristics of each region and to strategize on development and investment issues. For the organization to exist, there must be an economic framework supported by the stakeholders of the destination and their willingness to cooperate with each other and with the organization itself as they have to agree on how it should be managed and how it should operate. The aim of this research is to explore the prospects of establishing such a development organization on the island of Kefallinia, based on the existing perspective of private and public entities directly or indirectly involved in the shaping of the tourism supply and demand of the destination. The theoretical part of the study approaches the conceptual terms related to its topic, and the empirical part presents the methodological framework used in order to answer a series of research questions. In the results of the survey, the participating stakeholders confirmed the need for the creation of a central tourism management and promotion body in Kefallinia for a number of important reasons related to sustainability issues, evaluation of indicators, and improvement of the destination's image, while they highlighted the main problems that hinder key partnerships and initiatives. Finally, they supported the involvement of local residents in management and decision-making, indicating an awareness of the importance of citizen engagement with the organization.