Yes each month, from the 1st thru the 7th beginning at 12:01am PDT and ending at 11:59pm PDT, a new city festival is planned.
The Far Seas Caravan will tote their goods across the lush lands of the major cities, setting up their tents on the outskirts of the cities in preparation for the City Festival. New specialty items may be available and if available can be purchased from Chris Weathers. Visit the Far Seas caravan merchants to see all of the local specialties and other festival goods. The Flying Freebooters have joined the festivities on a permanent basis so Aether Racing courses will also be available. All are welcome to try their luck on the unstable C.R.A.S.H. pads and those who are fast enough will earn a new prefix title. The aether race and city festival run concurrently and both end at 11:59pm PDT on the 7th.
Here's the schedule where the festivities will be held each month:
In Frostfang Sea, next to the Cairn of the Huntress at /waypoint 26, 148, -82. Kella Swampfoot is next to the fire northwest from the caravan at /waypoint 99, 151, -135. (Ice Theme Decor)
Each city is known for it's own style and decor. City Festivals incorporate those themes in the furniture items offered for sale.
City Festival Decor Style
Jan & Jul
Feb & Aug
Mar & Sep
Apr & Oct
May & Nov
Jun & Dec
The Far Seas merchants aren't going to wheel entire caravans into the city and block up the streets, so they have set up their festival market area outside the city gates where possible. Each city will have their own local specialties for sale. It should be safe for players of any alignment to visit the festivals in all cities, although admittedly PvP players will find an additional level of hazard, but that will come from other players, not NPCs.
For the Neriak festival, lower level good aligned players will need to run around the edges of the chasm to bypass the bridge with level 25 guards. *The Kelethin and Gorowyn festivals had their order switched in July 2010. Originally, Kelethin should have been in January and July festival while Gorowyn should have been in February and August, but this change has made them trade months, evening out the good-evil balance for festival locations.
The general merchant will be present at every city festival with the exact same items for sale at all festivals. These are items the Far Seas group think will sell well in every city.
The city specialities merchant will sell different specialties in every city. These are boutique items that the Far Seas traders think will sell better in some cities than others! So the items for sale at the Qeynos festival will only be sold when the festival returns to Qeynos again. They will not be sold in Kelethin or any other city festival, the merchant will be selling other special items that he thinks those cities will be more interested in. It's all about maximizing the profit for the Far Seas, of course!
Each city has a special collection during its festival. The reward is a city-themed in-house mailbox. It will be problematic for those unwelcome in those cities to collect those, but the collection items are fully tradeable.