Local festivals can contribute to the economic development and improvement of community image. Additionally, they can play an important role as a tourism attraction. This study aimed to segment the Jeju Olle Walking Festival visitors based on benefit sought and to provide a representation of the socio- demographic and travel characteristics of the segmented groups. Data were collected at five Olle courses from 9.13 November, 2010. The results of K-mean cluster analysis based on seven benefit sought factors, yielded four different visitor clusters represented as nature-seekers; escape-seekers; festival experience- seekers; and multi-purpose experience seekers. Among the four groups identified, the data analysis revealed significantly different characteristics in terms of socio-demographic and travel behaviors. Based on the visitors` profile according to the results of the study, marketing strategy considerations as well as implications pertaining to the segmented groups were addressed and identified. The results of this study are intended to benefit the Jeju Olle Walking Festival`s sustainable development.