Built on a structural equation model, this study examines the mutual relationships between tourists' perceived service quality, value, satisfaction and intentions to re-purchase packaged tour services from travel agents. A mediation model where tourist satisfaction is hypothesized as a key mediator of the relationships between perceived service quality and repurchase intentions, and between perceived value and repurchase intentions is developed and tested using a substantial dataset with a time span of nine consecutive years, available from a well-established regional consumer satisfaction survey. While previous literature suggests that quality perception imposes a direct effect on tourists' repurchase intentions, this study shows that such impact is fully mediated by tourist satisfaction. The mediating role of satisfaction is further supported by examining the direct/indirect effects of perceived value on tourists' repurchase intentions.