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The purpose of this study is to investigate the effect of hotel brand equity on perceived value and consumer’s loyalty of five-star hotels in Seoul City. Brand awareness, brand image and perceived quality were tested in the relationship with both perceived value and brand loyalty. The findings and implications can be summarized as follows: First, brand equity had a significant relationship between with both perceived value and brand loyalty except for the brand awareness factor of brand equity. Second, both brand image factor and perceived quality factor caused a positive impact on both perceived value and brand loyalty. Third, perceived value also caused a positive impact on brand loyalty. Conclusively, both brand image factor and perceived quality factor caused positive impacts on perceived value, at the same time on brand loyalty. And perceived value caused positive impact on brand loyalty.