Answer:
Code:  
import os   # os module to create directory  
event_file = open("event_details.txt", "r") # Getting event file  
event_details = ""  # event details to be stored  
for row in event_file:  # traversing through the event_file  
    event_details += row    # appending event details  
os.mkdir("./invitations")   # make directory in the same parent directory  
names = open("guest_list.txt", "r") # getting names of the people  
for name in names:  # traversing through names in guest_list file
    name = name.replace('\n', '')   # removing the ending '\n' from the name  
    invitation_msg = "Hi! " + name + ", You are heartly invited in the Ceremony.\nAt " + event_details # Generating the invitation message  
    file_name = '_'.join(name.split(' '))   # Spliting name in space and joining with the '_'  
    file_path = "./invitations/" + file_name + ".txt" # Generating each file path  
    invite_file = open(file_path, "w")  # Creating the file for each name  
    invite_file.write(invitation_msg)   # Write invitation to file
Output: