There has been a substantial rise in the number of Chinese tourists, with the Chinese millennials being important influencers. Yet very little is known about their tourism behavior, particularly how their perceived destination brand values influence their destination loyalty. This study brings in the consumers’ perceived brand value concept from the branding literature to investigate Chinese millennial tourists’ destination loyalty. An online survey was adopted to collect data from 287 Chinese millennial tourists. The findings offer insight into the relative effects of five dimensions of tourists’ perceived destination brand values on their destination loyalty. The findings also extend existing tourism literature, showing the moderating effects of destination brand globality, destination status (domestic vs. international) and national brand attitude on the said relationships. Managerial implications to better target Chinese millennials are discussed together with future research directions.