The Cannes Film Festival will unreel May 13, although the global recession has damped business at the picturesque French seaside resort renowned for its rich playboys and beautiful women.

Hotels beg for customers despite steep cuts in room rates, and many yacht parties have been canceled. Hold the Champagne, please — make it wine, and the less expensive stuff at that.

Still, recession has not affected the expected lineup, which includes some of the greatest masters of cinema. Ang Lee, Pedro Almodovar, Quentin Tarantino, Johnnie To, Jane Campion, Lars von Trier and Terry Gilliam will premier movies.