This study investigated the co-creation of value in tourism by the collaborative network organisations (CNOs). The objective was to verify the degree of co-creation of value in the plans generated by participatory planning process in Foz de Iguaçu city, and to confirm that this process forms a platform to value co-creation in tourism destinations. The used methodology was a content analysis of a technical report and other documents related to the process of strategic-participatory assessment of Foz do Iguaçu city. This city is located at the three border zone between Brazil-Argentina-Paraguay, thus it is a shared tourism destination. The results indicated that the process of participatory planning, conducted by CNOs, can be a way to consumer-to-business-toconsumer (C2B2C) co-creation of value in tourism. Besides, the participatory planning is a tool of tourism governance, in which the CNO represents a hub between the relationships B2B, B2C, C2C, C2B2C, public-private sector and community, i.e., a platform with high capacity of value co-creation.