industries (Caruana et al. 2000, Cronin et al. 2000, Lin et al. 2005). As already suggested,
price can also be one of the important factors in consume r purchase decision process;
therefore, it has also been incorporated in the model of hotel services perception.
Our research shows that perceived value of hotel guests influences hotel guest satisfaction,
which in most cases should also lead to guest decision to return to hotel. In practical terms
this means that intelligence about how to add value from the hotel guest’s point of view can in
the long term lead to higher hotel guest satisfaction. It is however not unimportant that
perceived quality not only directly impacts customer satisfaction but that there also exists the
indirect relationship through perceived value. Since only one third of the variance in guest
satisfaction can be explained by perceived quality, this implies another important issue to the
concept of perceived value. Our results support additional evidence that together with
perceived quality also the perceived price is an important predecessor of perceived value in
hotel services.
For marketing practitioners and managers in hotel industry our study emphasizes, that if there
is a harmony between all four components, better competitive positions can be achieved. With
top management support in maintaining a key customer focus through perceived value a
higher levels of hotel guest satisfaction, possibly also loyalty (Žabkar et al. 2007), are a likely
outcome.