This articles explains the difference between an Event and Reservation.

Reservation: A reservation is a booking for one court at one instance in time.  For example, if you a user books Court #1 at 1pm on Saturday, that is a Reservation.  
Examples may include: A ladder match, a private lesson, etc.

Event:  An event is a special kind of reservation that can be one or more days, and can be signed up for.
Examples may include: Beginner Clinic, Adult Mixer, etc.  

It's important to note both Reservations & Events can be categorized by setting up Reservation Types and Event Categories under Setup.

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