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Eric, you have a very strange idea of honor. Are you sure that everyone else (including the club owners) thinks the same way? For some reason, it seems to me that it's the opposite.
In this case, it's purely business - people have a club, and we have the money for the rental. There's no need to add anything else to it.
In the service industry, there is a concept called booking, and that's what you used. So, refusing a booking is a perfectly normal occurrence - circumstances can change. Moreover, the club isn't really suffering - it's not opening specifically for us; it will still make the same profit from regular customers.