Guesthouse accommodation plays an important role in Ghana’s hospitality industry and was therefore the focus of this study as little research dealing with guesthouses in Ghana could be found. The number of guesthouses in Ghana continues to grow and they thus represent an important alternative to hotels. However, these establishments seem to perform poorly and face several challenges such as lack of managerial knowledge, insufficiently skilled employees, poor interaction with customers, and criticisms of the provision of low quality service. The main reason for undertaking this research was to provide guesthouse managers in Ghana with information that might assist them in making decisions about the experience they offer. Such knowledge could make this type of accommodation more competitive and eventually help the hospitality sector in Ghana attract tourists and grow. It is imperative that guesthouses focus on the experience they offer, because contemporary tourism and hospitality literature suggest that successful businesses require a shift from functional and financial interests to a more profound focus on total experiences which embody emotional aspects. It is thus argued that, if guesthouse managers in Ghana do not know how their guests perceive their guesthouse experience, they might make costly mistakes and allocate resources to aspects that already provide quality and value in a functional sense, instead of those elements perceived as providing quality and value in the total experience. Two dominating concepts, namely experience quality and experience value, formed the basis of the examination of guests’ experience with the guesthouses in Ghana. In addition, the relationships between the experience and satisfaction were also investigated. Four experience quality dimensions, namely hedonics, peace of mind, involvement, and recognition, and seven value dimensions were examined. The experience value dimensions included atmospherics, enjoyment, entertainment, efficiency, excellence, escape, and economic value. A proportional stratified random sampling procedure was followed to select the guesthouses for the study. Thereafter, a structured questionnaire was distributed to the guesthouse guests selected by means of convenience sampling. Five hundred and forty one useable questionnaires were received. The guesthouse guests formed the primary sampling unit for this study. The results of the empirical study showed a strong positive correlation between all the dimensions of experience quality and experience value, while the factor analysis confirmed that all these dimensions loaded on a single factor. Therefore, experience quality and experience value cannot be separated, and the resulting single multi-dimensional factor was subsequently renamed, overall experience. The results also indicated a positive relationship between hedonics, peace of mind, involvement, recognition, atmospherics, enjoyment, entertainment, efficiency, excellence, escape, economic value, and overall satisfaction. The inferentially established rank-order of the dimensions contributing to satisfaction can guide managers when allocating resources. Overall, atmospherics was ranked first, followed by economic value. Escape was the lowest ranked dimension. In addition, it was found that, except for escape, all the experience dimensions were perceived as basic satisfiers. This implies that guests will be dissatisfied when provision of these dimensions is inadequate. With regard to escape, listed as a performance factor, guests will be satisfied when performance is improved and dissatisfied when performance is low. A positive relationship was also found between overall experience and overall satisfaction. The latter include the likelihood of return and recommending the guesthouse to others. Finally, structural equation modelling confirmed a model representing the 11 experience dimensions (hedonics, peace of mind, involvement, recognition, atmospherics, enjoyment, entertainment, escape, efficiency, excellence, and economic value) and the relationships between overall experience and overall satisfaction pertaining to guesthouses in Ghana.