sake drunk while viewing cherry blossoms
Refers specifically to drinking sake under cherry blossoms during hanami (花見) parties. A seasonal and culturally specific term.
We enjoyed the cherry blossoms while drinking sake.
Compound of 花見 (hanami, 'cherry-blossom viewing') and 酒 (sake, 'alcohol'). The reading ざけ is a rendaku (sequential voicing) form of さけ.