You need to teach your guests to ignore your dog – completely! – with no talking, petting, or food. Right now all of the attention must come from you. This is going to be hard, but you need to convince your guests that this is important so your dog can learn good manners.
Time Out is Okay
If your dog gets overly excited when a guest is in your home, give him a time out. Put him in his crate in a back room away from the noise and confusion. Give him something to chew on, or at least a few treats, when you put him in his crate. This time out is not punishment; he's done nothing wrong. Instead, you're just giving him time to calm himself.
Most dog owners find that over time, with training practice, their dog can spend longer periods of time with the guests. However, if the get-together is loud or active there will come the time during the party when your dog will need a break.
Giving him that time out can prevent problem behaviors, so be generous and do it for him.