It is late Autumn in the year 2946 of The Third Age. It has been five years since the dragon came down from the mountain and laid great fire upon the lake. Five years since the great Battle of Five Armies, and five years of rebuilding.
Bard the Bowman has completed the reconstruction of Dale and has been crowned the new King. A new Laketown has been completed and trade has resumed up and down the Running River. Beorn has recently established his rule as a great chief at the head of his new followers, now known as the Beornings.
There is peace in the land as the Goblins are scattered, the wolves cower away and even the necromancer has supposedly been driven from his lair in the south of the forest. The number of Dwarves and Elves in these mannish towns grow less since the towns reached completion. Memories, especially the memories of men, fade fast, and maybe in the years to come the time of the alliance, when the free peoples fought the Goblins and wolves will fade, and Dwarves and Elves will be seen as intruders and interlopers once again.
But for now, after almost two centuries of misery, the people of Wilderland are finally free to celebrate harvest and planting festivals, Yuletide, the breaking of Spring and the end of Winter without impending threats. The streets of the new Laketown are crowded for the most part of the year, but teem with activity especially in the period that goes from September to December, when many crops are sown and animals are slaughtered, and people from neighbouring lands enter the town leaving their woods and fields and pastures to bring their goods to the market.
Many foreigners from all over Wilderland join the townsfolk of Esgaroth this year in the first year of the festivities called Dragontide, held to celebrate the death of Smaug. This is a three-day festival held in Laketown from the first of November to the third, celebrating the killing of Smaug the Dragon and the end of the harvest season. All three days are to be given to much eating, drinking and singing, as hundreds come to enter the town, or camp on the grounds cleared for the purpose on the shore at the end of its bridge.