Fashionable name for watering hole
I believe the answer is:
inn
'watering hole' is the definition.
(I've seen this in another clue)
'fashionable name' is the wordplay.
'fashionable' becomes 'in' (similar in meaning).
'name' becomes 'n' (common abbreviation e.g. on forms).
'in'+'n'='INN'
'for' is the link.
(Other definitions for inn that I've seen before include "Gray's, Lincoln's" , "Hostelry, tavern" , "Hotel or public house" , "Country pub, often with accommodation" , "Tavern with lodgings" .)