Abstract: Gaining the loyalty of visitors is one of the main challenges of destinations. Previous studies generally agree that satisfaction is the key driver of tourist loyalty. However, it is necessary to conduct a more thorough study of destination loyalty formation by exploring the role of other variables as direct antecedents of loyalty and as moderators of the satisfaction?loyalty relationship. With this in mind, this study examines the influences of two variables that are especially relevant in the study of consumer behaviour in tourism: past experience and involvement. The results obtained from a sample of 807 tourists visiting a destination in Spain suggest that (1) satisfaction and past experience have a significant influence on loyalty; (2) it is necessary to separately consider the two dimensions of loyalty (i.e. the intention to return to a destination and the intention to recommend it) to understand loyalty formation; and (3) past experience is a quasi-moderator variable as it directly influences tourist loyalty and moderates the satisfaction?loyalty relationship. The findings of this research may help managers make decisions about market segmentation and guide the marketing efforts to gain loyal tourists.

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