Gala or fete (8)
I believe the answer is:
festival
This clue is a double definition.
'gala' is the first definition.
(I know this)
'fete' is the second definition.
(I know this)
(Other definitions for festival that I've seen before include "Celebration, religious or artistic" , "Period for feasting and celebration" , "Traditionally time of celebration" , "Celebratory event" , "Lift vase (anag.)" .)