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The proposition that guides this article is that value for money not only influences customers’ choice behavior at the prepurchase phase but also affects their intention to recommend and return behavior at the postpurchase phase. Perceived value is conceptualized as consisting of two dimensions: acquisition value and transaction value. The study applied a two-dimensional value scale developed by Grewal, Monroe, and Krishnan to hospitality services; hotels, and restaurants. Although the scale was found to be reliable, there were some concerns about its validity across the two studies. In particular, although the dimension of acquisition value was found to be valid, transaction value showed poor validity. The conclusion suggests that a new conceptualization of transaction value and a better scale should be developed for the evaluation of hospitality services.

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This paper reports on a study of consumer loyalty in the holiday destination selection process. The study does not define loyalty, but attempts to contribute to an understanding of the concept by applying a psychological measure of variety seeking directly to patterns of holiday destination choice. The measure used is based on the optimum stimulation level (OSL) concept. The guiding proposition in this study was that tourists with a high need for variety would display a varied pattern in their vacation destination selection and this assumption is modestly supported by the empirical findings. The results suggest that further experimentation with the OSL would be fruitful when combined with attitudinal measures and with precisely defined sets of tourist behaviours. Copyright © 2004 John Wiley & Sons, Ltd

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