The Place: St. Barths

The Crowd: French billionaires with young girlfriends wearing Gaultier bikinis; American billionaires with young girlfriends sporting Ralph Lauren 'kinis; Leo DiCaprio in a rented $80,000-a-night yacht.

Celebrate Christmas: Le Select, a cheap-ish burger joint in Gustavia that offers a "Cheeseburger in Paradise." Reportedly, Jimmy Buffet found inspiration here. Or check out Hotel Le Toiny's alfresco restaurant, Le Gaïac. They'll be serving—naturellement—foie gras, caviar, and an array of sea animals. Then retire to the private cabanas.

Celebrate New Year's: The village of Gustavia, where you will salivate over the megayachts and the $1,000 splits of Champagne. Then saunter over to Casa Nikki, a popular disco that doesn't even open its doors until 10 pm. At 2 am, it's time for Le Ti, where you can dance on tables with other well-coiffed, well-quaffed strangers.

Stay in style: Hôtel Isle de France, where you might just see the likes of Kirsten Dunst or Billy Joel and whichever wife he's with now.

Le Select
Tel: 59 05 90 27 86 87

Le Toiny
Tel: 59 05 90 27 88 88

Casa Nikki
Tel: 690 57 59 57

Le Ti
Tel: 590 27 97 71

Hôtel Isle de France
Tel: 800 810 4691
Doubles from $1,125