Cycling Australia's lavish function on the Golden City Hotel balcony attracted the who's who of Ballarat and corporate sponsors of the event. 

Champagne and beer were flowing for the hundreds of guest, ahead of the Men's Elite Criterium event at 7pm.

Golden City Hotel owner Simon Coghlan said the balcony was an ideal location for such a function.

"There are not really any other venues around the area that have this," Mr Coghlan said.

Sovereign Views Appartments owners Gary and Wilma Curnow were invited through their connections with Cycling Australia. 

"We house some of the teams in our apartments," Wilma said. 

"We've got people from Orica, Green Edge and Drapac, and have done so for the past eight years."

Wilma said that the apartments were booked to capacity until the end of January.

"Since Boxing Day we have been very busy. The week before Christmas was quiet, but now we're picking up, especially with events like this," Wilma said. 

Mary Petrie was also invited to the function as a guest of Martin Barras, the Australian Women's Road Cycling Coach. 

"I'm enjoying it. We come every year," Mary said.

Her niece, Emilie Barras, 15, said last year was exciting for the family.

"Last year was good. One of (dad's) girls won the race," Emilie said.