Although value is regarded as one of the means by which marketers can build their core competence, in previous research in the tourism field only the effect of travelers’ overall perception of value on their attitude and behavior has been addressed. By analyzing data from a survey conducted with Mainland Chinese outbound tourists, we examined the effects of travelers’ perceptions of quality value, emotional value, price value, and experiential value on their satisfaction and loyalty towards destinations. The results showed that both emotional value and quality value had strong positive influences on travelers’ satisfaction and loyalty in an outbound tourism setting, and that the emotional value played the greatest role. The experiential value had a significant impact on travelers’ loyalty. These findings provide tourism managers with insights into how to improve travelers’ satisfaction and loyalty by means of adding value.