The purpose of this study is to explore and consider the importance of Hotel banquet service and the operational result of banquet service. For the study, we selected six five-star full service hotels in Korea and compared and analyze the business res...
The purpose of this study is to explore and consider the importance of Hotel banquet service and the operational result of banquet service. For the study, we selected six five-star full service hotels in Korea and compared and analyze the business result of banquet service after before the economy disaster, so called the IMF and how it effected the business. From the study, we found following facts. First, the banquet business during the economy disaster showed sharp declines in revenue. Second, the reasons for the revenue decline are the social and economic uncertainty caused by the IMF`s financial favors or supports and reservation cancellation with the banquets` regular customers-cooperates, firms and group businesses. Third, from the end of 1998, banquet business result show increase in the revenue and the reservation due to the revision of related laws and recovery of economy. Fourth, it is important and necessary to understand the significance of the banquet business for ASEM in year 2000, Visit Korea in year 2001 and World Cup soccer tournament in year 2002