Most Tibetans of Shangri-La celebrate the Chinese New Year (Chinese Spring Festival) and they also have the Tibetan New Year. Furthermore, there are some other festivals celebrated there:

Horse Race Festival: It's celebrated on May 5th according to the lunar calendar every year. The horse race is held at the foot of Wufeng Mountain and lasts for three days.

Dengbashi: It's celebrated on July 15th according to the lunar calendar every year. During the festival, all the Tibetans wear festival attire and worship gods for good fortune. Also they perform the Guozhuang Dance and hold the horse race.

Gedong: A traditional festival of Tibetan Buddhism held from Oct. 2nd to Oct. 19th   each year. During that time, there is a performance of the Mask Dance.