happy hour

noun
a cocktail hour or longer period at a bar, during which drinks are served at reduced prices or with free snacks: happy hour from 5 to 7 p.m.

Origin:
1960–65

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Collins
World English Dictionary
happy hour
 
n
a time, usually in the early evening, when some pubs or bars sell drinks at reduced prices

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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American Heritage
Idioms & Phrases

happy hour

A period in the late afternoon or early evening when a bar or lounge features drinks at reduced prices. For example, The hotel bar has a happy hour from five to seven every day. [1960s]

The American Heritage® Dictionary of Idioms by Christine Ammer.
Copyright © 1997. Published by Houghton Mifflin.
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Example sentences
Forming a support group is as easy as inviting a few friends to lunch or happy
  hour.
Early happy hour is pretty standard across the board, typically with deep
  discounts on food and booze.
In the evening, after happy hour, he turned sybarite.
The ads are aimed at younger urban professionals who look forward to other
  parts of the day besides happy hour.
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