In the competitive travel accommodation market, peer-to-peer accommodation (P2PA) providers are in desperate need of a value proposition framework that will assist them in guiding the development of an ‘engaged’ customer base. However, currently, the P2PA literature does not provide such a framework that includes a comprehensive list of tangible and intangible values driving customer engagement (CE). Underpinned by the service-dominant (S-D) logic theory, we adopted a big data-based, two study approach to identify these values (and their composites) that drive CE in P2PA. Study 1 was conducted to identify important tangible and intangible values driving customers to engage with P2PA. This qualitative study adopted a text-mining and sentiment analysis approach which was performed on 499,160 customer reviews. The subsequent quantitative study (Study 2) used a multi-factor ANOVA analysis (i.e., Automatic Linear Modelling) to examine 19,060 listed houses using their star ratings and other available quantitative data (e.g., accommodation cost, response rate and number of rooms). Our findings present an S-D logic-based value proposition framework for enhancing CE in P2PA. This framework shows that customers consider seven tangible-intangible values (i.e., accommodation, perceived enjoyment, perceived friendliness, perceived convenience, surrounding, perceived response and trustworthiness) in creating three values (i.e., re-adopt, recommend, and refer P2PA) for P2PA-platform providers and listed-houses. Overall, by developing an S-D logic-based framework and identifying salient values in P2PA value co-creation, this research extends both the P2PA literature and S-D logic theory. We also provide insightful recommendations for P2PA providers.