In 1944 a group of Cusco intellects decided to revive the Inca festival of the June Winter solstice, reconstructing it from descriptions in the chronicles of the Spanish Conquest. They staged it at the massive ruins of Sacsayhuaman, above the city, where it continues to be held every year.
Before the arrival of the Spaniards in Cusco this festival was celebrated every year by the Incas as the Festival of the Sun where the God of the Sun, Wiracocha is honored. Inti Raymi was the most important festival of the Incan empire Tawantinsuyu which based its religion on the cult of the Sun.
The main 'Sun Festival' is held on June 24th. This event is really more of a pageant than a fiesta, with hundreds of locals playing the parts of Inca priests, nobles, virgins of the sun and soldiers.
The event begins at about 10am in the morning at the Koricancha, or Temple of the Sun, and winds its way up Avenida del Sol to the Plaza de Armas, before climbing the back streets to arrive at the ruins of Sacsayhauman at about 2pm. Thousands of people are gathered to watch the arrival of the Inca and his Coya (queen), men sweep the ground before him and women scatter flowers. The Inca takes centre stage and talks to the Sun, the principle object on Inca worship and from whom the Incas claimed direct descendency. He then receives reports from the governors of the four Suyus (regions) of the Inca empire. The Inca re-lights the sacred fire of the empire, drinks some chicha and sacrifices a llama by pulling out its beating heart and holding it up in reverence to the Sun (all faked but very realistic). The success of the coming years activities, such as harvests or battles, are then read in the entrails of the llama.
Finally the ritual eating of Sankhu (corn paste mixed with the llamas blood) ends the ceremonies. The Inca makes a last address to his people and then departs, just in time for music and dancing that carry on late into the evening.
Most of the concerts and expositions are for free and sponsored by the city of Cusco and Peruvian companies. The highlight of the Inti Raymi is in the oration given by the Sapa Inca and the high priest in the original language of the Incas, Quechua.