This paper examines the social practice of customer‐to‐customer value co‐creation in tourism contexts by considering visitor–visitor interactions, their manifestations, influential factors, and types of resulting value using extended social situation analysis. On the basis of 76 qualitative in‐depth interviews, results show that value co‐creation is not necessarily dependent upon the underlying social interactions but predominantly influenced by personal factors and attitudes towards sociability. The stronger the focus on other social actors is and the longer and more personal the social interactions are, the more complex and multilayered is the co‐created perceived value.