Corporate social responsibility (CSR) presents unique prospects for both local development and valuable business returns for tourism companies. However, optimization of CSR-generated development impacts may largely depend on the willingness of companies to change their corporate practices more. This paper explores CSR practices of hotels and lodges in Livingstone, Zambia, and associated community development impacts of activities they implement in the surrounding Mukuni communities. Findings from research amongst eight hotel and lodge companies, show that where the voluntary process of change of CSR practices was accompanied by multi-stakeholder involvement, which tended to ameliorate adverse power relations, substantial community development benefits were widely captured by communities from CSR initiatives. These findings suggest that in situations where companies willingly incorporate pro-poor approaches in their business practices, multi-stakeholder involvement in CSR might be a plausible approach for ensuring equity and for augmenting the CSR community development impacts.