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The Inception star and the Israeli-born supermodel - who have been dating for over five years - ended their relationship recently and Leonardo immediately took off for France with pals including actor Jamie Foxx.
A source told the Sunday Mirror newspaper: "Leo's gutted about the split with Bar. This time it's for real and there's no hope of them getting back together. He wanted to go to Cannes and get away from it all.
"Jamie hired a super yacht for the trip and it's been a case of partying until dawn, gaggles of girls and lots of mischief.
"They're getting through champagne like it's going out of fashion."
Although Leonardo, 36, and 25-year-old Bar have has break-ups in the past, splitting for six months in 2009 after dating for four years before reuniting last year, pals have revealed this break-up is serious after they both came to the conclusion that neither of them are ready to settle down.
A source said: "It was amicable, they're still friends and they are still talking. They just grew apart and went their separate ways.
"Neither are ready to settle down, and both have busy careers that have been taking them in different directions."
