Peripheral regions are seen in the literature as disadvantaged in various dimensions, struggling to valorise their existing (cultural) assets. Networking is often considered an integral part in unlocking these assets, an approach also fostered by different regional policies. In this article, we analyse governance arrangements around tourism assets in three central European regions. The comparison provides an important input to existing discussions on cultural tourism, regional development and governance in peripheral places. The analysis shows that formal governance structures in the case study regions are often well developed but that policy‐making capacities are limited by a low stakeholder base.