dinner party vs banquet

dinner party and banquet both are nouns.

Word	Noun	Adjective	Verb	Adverb
dinner party	Yes	No	No	No
banquet	Yes	No	Yes	No

As nouns, banquet is a hyponym of dinner party; that is, banquet is a word with a more specific, narrower meaning than dinner party:

Other hyponyms of dinner party include feast, beanfeast.

dinner party (noun)	banquet (noun)
a party of people assembled to have dinner together	a meal that is well prepared and greatly enjoyed
	a ceremonial dinner party for many people

dinner party (verb)	banquet (verb)
	partake in a feast or banquet
	provide a feast or banquet for