This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cannes Fest Will Sizzle Despite Recession

There's a growing divide between the rich and super-rich, who are debating whether to show up and flaunt it at the 62nd Cannes Film Festival in France or avoid it in light of the economic recession.

A few industry heavyweights have already made their decisions about the 12-day festival, which starts May 13. Vanity Fair is canceling its annual finale party and sponsors Fendi and Swarovski are pulling the red carpet out from under their brassy events at local nightclubs.

Belles Rives offers an oasis removed near Cannes.

But don't expect an empty Port du Cannes just yet. All of the 60 mega-yacht berths are booked and local catering companies are fielding Champagne and caviar requests at similar levels as previous years.

Cannes' top hotels: Contrary to many reports of falling occupancy rates among the city's luxury hotels, most have been booked for months.

The Hotel Martinez has stayed at the helm of the local hotel market since its 2002 renovation. Rooms on the hotel's penthouse level offer massive outdoor terraces and space for entertaining that even Brad Pitt and Angelina Jolie would find plush. The hotel is also home to one of Cannes' top dining rooms and a Givenchy spa.

A hotel reservation clerk says the hotels' rooms were booked solid almost a year in advance.

French luxury chain Lucien Barriere Hotels & Casinos recently revamped its Majestic Barriere. The historic seafront hotel is home to two restaurants. One is a new outpost of Fouquet's Brasserie, which originated along the Champs-Elysées in Paris. The other is the Beach Restaurant, a sexy oceanfront eatery with a delightful Cote d'Azur menu and easy access to the hotel's renovated tanning pier. Rooms are thoroughly French with ornate red and beige decor, opulent bathrooms and mostly sea-facing views.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $130.28 0.47%
FB $81.53 -1.07%
GOOG $565.06 3.30%
TSLA $218.42 -0.08%
YHOO $44.52 1.89%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs