watering hole

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun A small natural depression in which water collects, especially a pool where animals come to drink.
• noun Informal A social gathering place, such as a bar or saloon, where drinks are served.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun A depression where water collects and animals come to drink
• noun colloquial A bar or other local drinking establishment

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun a health resort near a spring or at the seaside