Etymology
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festival (n.)

1580s, "a festal day, appointed day of festive celebration," short for festival day (late 14c.), from Old French festival (adj.) "suitable for a feast; solemn, magnificent, joyful, happy," and directly from Medieval Latin festivalis "of a church holiday," from festum "festival, holiday," neuter of festus "of a feast" (see feast (n.)). The English word returned to French 19c. in certain specialized senses.

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Definitions of festival

festival (n.)
a day or period of time set aside for feasting and celebration;
festival (n.)
an organized series of acts and performances (usually in one place);
a drama festival
Synonyms: fete
From wordnet.princeton.edu