After a hard day of lazy breakfasts, sunbathing on private yachts and a few interviews about ‘the craft’ – it’s not surprising that the great and good of the world’s film industry need a healthy dose of rest and respite to deal with the demands of Cannes.

And, just like their wardrobes full of designer gowns, private cars and legions of macro-biotic chefs are all provided for them – so are some of the world’s most exclusive, glittering and salubrious parties, all for the A-list’s champagne-quaffing pleasure.

Sophie Vokes-Dudgeon, of America’s US Weekly magazine, describes the party scene as an essential element of the festival. “A lot of people spend time at Cannes trying to get into the right places and be seen rubbing shoulders with the right people. A film company is judged on how outrageous their party is. Everyone in Cannes is looking for a movie, or to sell their movie, or just to sell themselves,” says Ian Thompson. “The opportunity to bump into the right person or get access to five financiers at just one party saves an awful amount of work.”

Whether you want to go bo-ho and barefoot on Elton John’s luxury yacht or be entertained by the ‘tres risque’ Dita Von Teese – there is a party for everyone at the prestigious film festival. And it seems that even though budget and recession issues meant a few parties had to close their velvet ropes for this year, the best of the rest have been sure to make up for it..

No doubt the hottest ticket in town was the Penelope Cruz – hosted Hollywood Domino fundraiser for the (RED) fund. Despite suffering from a serious case of food poisoning and flu, Penelope poured herself into a floor-length white gown and matching jacket, to party alongside the likes of Orlando Bloom, Paris Hilton and Peaches Geldof. Guests then party-hopped all evening – dropping in on the Chopard-Valentino party held at the Baoli restaurant which saw Elizabeth Hurley, Minnie Driver and Eva Herzigova dripping in priceless Chopard jewels and wearing Valentino couture.

Flying the flag for British hospitality, Elton John’s notorious yacht parties have played host to some serious A-List headliners, where guests can kick of their heels, drink vintage champagne and be regailed by Elton and David into the early hours. Apparently the likes of Quentin Tarantino and Elizabeth Banks sought refuge on the multi-million dollar floating palace after the Soho-House party held in a luxury chateau chateau just moments away from the Croisette.

Stay tuned to t5m for all the latest from this year’s Cannes Film Festival.