Journalist and man-about-town Marcello struggles to find his place in the world, torn between the allure of Rome's elite social scene and the stifling domesticity offered by his girlfriend, all the while searching for a way to become a serious writer.

Four successful middle-aged men Marcello, a pilot; Michel, a television executive; Ugo, a chef; and, Philippe, a judge go to Philippe's villa to eat themselves to death. After the first night, Marcello insists that women should join them. Three prostitutes make it through a day or two; Andrea, a local school teacher, stays to the end. The villa, the food, and a Bugati roadster are essential props.

Splendor is the name of an old movie theater managed by Jordan (Mastroianni), who inherited it from his father. The theater is in decay and only generates debts and trouble, but Jordan gets aid in his almost quixotian quest from projectionist Luigi (Troisi) and ushurette Chantale (Vlady). However, Jordan is finally forced to sell the Splendor to businessman Lo Fazio (Piperno), which plans to transform it in some kind of furniture store. When Jordan leaves the theater for the last time (the very first scene), he recalls the glorious days of Splendor and movies in general.