This study aims to contribute to the growing literature on peer‐to‐peer services by investigating the relationships among three relevant aspects of such services, namely customers' identification with service providers, customers' feelings of psychological ownership toward the service setting (i.e., the providers' resources), and customers' interaction with service providers. Two empirical studies that investigate real peer‐to‐peer hospitality service experiences demonstrate that identification with service providers engenders a sense of psychological ownership of the service setting, which, in turn, enhances customers' attitudinal and behavioral loyalty. Notably, this effect occurs only when customers engage in cooperative interactions with their service providers.