Given the growing number of older people in the society, the consumer behaviors of this group are an increasingly important area for marketers and practitioners. This study focused on the dining-out values of older consumers as compared to younger consumers in the foodservice industry. Data were collected from 407 people in Seoul and Gyeonggi province from June to July 2010. Results of a factor analysis suggested three different factors of dining-out value: ``hedonic/experiential value,`` ``utilitarian/economic value,`` and ``convenience value.`` Results also revealed that hedonic value and utilitarian value significantly affect customer satisfaction among younger respondent group, while only hedonic value had a positive significant effect on customer satisfaction among older respondent group. Based on the findings from this study, implications for the successful management of consumers` value perceptions in restaurant management were discussed.