open house

a party or reception during which anyone who wishes may visit to share in a celebration, meet a special guest, etc.
a time during which a school, institution, etc., is open to the public for exhibition or for some specific occasion.
a house hospitably open to all friends who may wish to visit it.
keep open house, to be prepared to entertain visitors at any time: They keep open house for artists and writers.

1520–30 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
open house
1.  (US), (Canadian) open day, Also called (in Britain and certain other countries): at-home an occasion on which an institution, such as a school, is open for inspection by the public
2.  keep open house to be always ready to provide hospitality
3.  (US), (NZ) a house available for inspection by prospective buyers

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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Example sentences
Set these out at your next open house and watch them disappear.
Daley's final open house draws throng of well-wishers.
These would be good projects to display at a family night or open house for the school.
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