Examining the Relationships among Perceived Value, Psychological Cost, and Tourists’ Revisit Intention Using Structural Equation Modeling
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Abstract
Background and Objectives: The study of Structural equation model between perceived value, psychological cost and repeat hotel service intention of tourists has the following research objectives: 1) To study the path and magnitude of influence of the value perception model, psychological cost and repeat hotel service intention of tourists 2) To develop a structural equation model between value perception, psychological cost and repeat hotel service intention of tourists.
Methods: The study is a quantitative study. The sampling group for the research is tourists who use hotel services in Thailand. The researcher will collect data from a sample of 400 samples and used the non-probability sampling method by accidental sampling. The tool used to collect data for this research is a questionnaire. The data analysis methods are as follows: 1) Descriptive statistics analysis, including percentage, frequency distribution, mean, and standard deviation; 2) Confirmatory factor analysis. (Confirmatory Factor Analysis: CFA) 3) Structural Equation Modeling (SEM) using Path Analysis technique.
Results: The structural equation model (SEM) between perceived value, psychological cost, and intention to reuse hotel services by tourists showed a good fit, with the following model fit indices: CMIN/df = 2.641, CFI = 0.940, IFI = 0.945, RMR = 0.030, RMSEA = 0.070, and a Chi-square p-value of 0.000. Path analysis revealed that perceived value had a positive influence on intention to reuse services (β = 0.39, p < 0.001), and psychological cost significantly influenced intention to reuse services (β = 0.62, p < 0.001). The model explained 54% of the variance in intention to reuse services (R² = 0.54).
Application of this study: This study offers practical implications for the hotel industry by highlighting the importance of perceived value and psychological cost in influencing repeat service intention.Hotels can enhance customer loyalty by improving service quality, pricing, and amenities while reducing booking difficulty and perceived risk.Tourism authorities can use the findings to promote quality service and reduce barriers, increasing Thailand's competitiveness.The study's model can be used to design and evaluate service innovations and improve CRM systems.Furthermore, the validated model contributes to academic research in hospitality and service industries.
Conclusions: A study in Thailand found that psychological cost has a greater impact than perceived value on tourists' intentions to reuse hotel services.Reducing anxieties and uncertainties is more critical than simply increasing perceived value for repeat business.Hotels should focus on building customer confidence and minimizing psychological barriers to foster loyalty and gain a competitive edge.
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