Are the VIP boxes in the stadia 'catered events'?
What's somewhat more surprising is that they're not calling the whole of the olympics "catered" to earn a bit more revenue from alcohol sales. However, this should push visitors towards local establishments, which might be great for the lower rungs of the economy vs. giving that business to whoever wins a unified contract for the Olympics.
I think you will find the French rather famously did away with their aristocracy.