The Five Flagons Theatre is the playhouse established in the basement of the Five Flagons Inn, in the Bridge District. It is the center of two quests and is the Stronghold for Gorion's Ward if they are a bard.
Raelis Shai, the current ownerEdit
When the party first enters the theatre, they behold a play in progress, one that meets with considerable criticism. After the play bombs, the leader of the troupe, Raelis Shai, appears on stage to apologize to the patrons, and ask if any adventurers would be willing to speak to her.
Doing so will trigger the quest Free Haer'Dalis from Imprisonment by Mekrath.
Triggering this side quest can be done voluntarily. Optionally, if the party includes Aerie, then Quayle will send a messenger asking the party to meet him at the circus, where he will tell them about Raelis Shai's need for adventurers.
Once the first side-quest has been completed, Raelis Shai will ask if the party will help her with a second matter. The gem she asked the party to retrieve with Haer'Dalis is used in a ritual to summon a planar conduit, with which they plan on leaving Toril and returning to the Outer Planes. She asks if they will agree to defend the troupe against any outer-planar monsters that might be sucked through the conduit before they stabilize it and are ready to leave; accepting begins the Planar Prison dungeon/quest.
Near the completing of Rescue Raelis and Haer'Dalis from the planar prison side quest, a grateful Raelis Shai gives the deed to the Five Flagons Theater to Gorion's Ward before she and her troupe, minus Haer'Dalis, return to the outer plane, Sigil. The party may now undertake the the role as Running the Five Flagons playhouse.
If completed properly, the Five Flagons Theater is one of only three Strongholds - the others being the De'Arnise Keep and Mae'Var's Guildhall - that provides a steady monetary income for the player. Other Strongholds do not provide money except as one-time payments for undertaking quests.