Understanding customer experience is an essential part of service operations for sustaining business in the sharing economy. We investigate the relationship among customer experience, perceived value, and customer loyalty from a stimulus-organism-response (S-O-R) perspective. Using a dataset of 4166 listings in a leading Chinese accommodation-sharing platform and text mining and econometric methods to analyze online customer reviews, we find that customer experience manifests in the physical environment and human interaction dimensions. The results show a positive association among customer experience, perceived value, and customer loyalty. Notably, the physical environment and human interaction are equally important in influencing customers' value judgments about their consumption experience. Moreover, perceived value has a stronger positive effect on attitudinal loyalty than on behavioral loyalty. This study adds new insights into the customer experience-perceived value-customer loyalty path by showing that the physical environment and human interaction have the same importance in affecting perceived value and identifying the subtle difference between attitudinal and behavioral loyalty influenced by perceived value in the accommodation-sharing economy. Furthermore, these findings provide managerial insights for service operations management and marketing strategy planning.