Losar is the Tibetan word for "new year." Lo means year and sar means new. Losar is the most important holiday in Tibet.
The celebration of Losar predates Buddhism in Tibet. Losar is traditionally preceded by the five day practice of Vajrakilaya . Losar rituals include painting houses, wearing new clothes, and resolving quarrels and debts. On the first day of Losar, a beverage changkol is made from chang (Tibetan rice wine, similar to Japanese sake).
In 2005, Losar occurred on February 9 - February 11. The year on the Tibetan lunar calendar is 2132, and is the year of the wood bird or wood rooster.