Frankly, I am allergic to the nice words about the importance of local events as a "major driver" for travel.
Disregard the media hype: for most people, an event means only one thing: prices soaring.
The actual cash flow is the only thing that matters, not the festival calendar.
When the Cannes Festival makes hotels unaffordable, it becomes an obstacle, not an opportunity to seize.
My example: paying double for a train to Paris because of the Fête de la Musique doesn't "plan" my trip, it ruins it.