The performance evaluation of a hotel could be achieved through efficient incentive system under Agency Model. And also, it is closely related with the management accounting, which is likely to bring about the problem of moral hazard caused by the manager's the avoidance of risks or effects. For the hotel owner, it would be needed to minimize those two problems to give his managers incentives as well as risk aversion by using performance evaluation through proper reward or penalty have to be followed, the risk aversion uncertainty, efficiency of purpose achievement and versional quality will make the effect of job to various degrees. Accordingly, for efficient incentive system through performance evaluation under Agency Model, it would be more needed than in any other industries. So, this study tried to investigate factors which the Agency Model theory may be positive for hotel management and finally, by using actual evidence study it could demonstrate the incentive system, which would give the greatest degree of both the owner and managers.