How Visitors Perceive Heritage Value—A Quantitative Study on Visitors’ Perceived Value and Satisfaction of Architectural Heritage through SEM

In a time when heritage conservation is coordinated with tourism and urban renewal to achieve sustainable development, value is considered as the intrinsic factor of heritage protection, utilization, and management. From the perspective of visitors, this article aims to delve into the key factors of the perceived value of architectural heritage and their relationship with the value types, via structural equation modeling (SEM). This article constructs a research model of the perceived value, perceived enjoyment, visit satisfaction, and post-visit behavioral intention of architectural heritage, based on the American Customer Satisfaction Index (ACSI). The data for the analysis were 271 eligible questionnaires obtained from an anonymous random sample of visitors to architectural heritage sites in Guangzhou, Guangdong (Canton) Province, China. The results show that visitors’ perception of architectural heritage value does not follow the value types proposed by experts, but is based on a comprehensive assessment of personal perceptions. Meanwhile, visitors’ perceived value mainly depends on the artistic value, although the historical value is recognized by experts as dominant, and visitors prefer historical stories that are intertwined with culture. The results also reveal that, as with the perceived value, the perceived enjoyment, which was rarely considered in heritage conservation and management in the past, has a considerable positive impact on visit satisfaction, and can also improve visitors’ perceived value. The proposed theory model and research results can serve as a valuable reference for cultural heritage management and for operators of cultural heritage tourism destinations, and can also provide new ideas and methods for heritage value research.