Global leisure services industry is expected to be worth $3.4 trillion by 2010. This makes assessing consumers' value perceptions an important tool for marketers to adjust their services and meet consumers' needs and expectations. This study investigates the application and relevance of SERV-PERVAL scale as a measure of consumers' perceptions of service value in mid-scale restaurants. The scale measures five dimensions of perceived value... perceived quality, monetary & behavioural price emotional response and reputation. Results can assist marketers with the decision process of how best to influence value perceptions and favourable behavioural intentions amongst target markets. A conceptual framework, of the relationships between perceived value, its antecedents & consequences, was synthesised from literature. University students were surveyed and the resulting data analysed, using multiple regression analysis. The first model suggests that consumers'' emotional response is the best predictor of their overall perceptions of value and the second model indicates that consumers'' perceived value is a better predictor of consumers'' favourable behavioural intentions than satisfaction.