Despite the economic and academic importance of periodic hallmark festivals (PHFs) and customer experience, knowledge about the tourist experience (TX) in a PHF consumption context remains limited. In response, this research conceptualizes a novel “periodic hallmark festival tourist experience” (PHF-TX) construct and develops a measurement instrument. Findings from three empirical studies of PHF tourists confirmed six constituent perceived value dimensions of PHF-TX. Empirically, PHF-TX was positively associated with behavioral intentions and subjective wellbeing, with festival attachment playing a mediating role. Important theoretical and practical implications include heterogeneity with prior experience and an attenuated impact of PHF-TX in the proposed relationships, indicating that the relationship between PHF-TX and behavioral intention may differ between first-time and repeat PHF tourists. This finding suggests there may be a point on the perceived value spectrum where the benefits of PHF-TX increase at a decreasing rate. Consequently, PHF organizers are recommended to nurture festival attachment opportunities for first-time tourists.
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