The Collaborative International Dictionary of English v.0.48:

Parade \Pa*rade"\, n. [F., fr. Sp. parada a halt or stopping, an
   assembling for exercise, a place where troops are assembled
   to exercise, fr. parar to stop, to prepare. See Pare, v.
   t.]
   1. The ground where a military display is held, or where
      troops are drilled. Also called parade ground.
      [1913 Webster]

   2. (Mil.) An assembly and orderly arrangement or display of
      troops, in full equipments, for inspection or evolutions
      before some superior officer; a review of troops. Parades
      are general, regimental, or private (troop, battery, or
      company), according to the force assembled.
      [1913 Webster]

   3. Hence: Any imposing procession; the movement of any group
      of people marshaled in military order, especially a
      festive public procession, which may include a marching
      band, persons in varied costume, vehicles with elaborate
      displays, and other forms of entertainment, held in
      commemoration or celebration of an event or in honor of a
      person or persons; as, a parade of firemen; a Thanksgiving
      Day parade; a Memorial Day parade; a ticker-tape parade.
      [PJC]

            In state returned the grand parade.   --Swift.
      [1913 Webster]

   4. Hence: A pompous show; a formal or ostentatious display or
      exhibition.
      [1913 Webster]

            Be rich, but of your wealth make no parade. --Swift.
      [1913 Webster]

   5. Posture of defense; guard. [A Gallicism.]
      [1913 Webster]

            When they are not in parade, and upon their guard.
                                                  --Locke.
      [1913 Webster]

   6. A public walk; a promenade.
      [1913 Webster]

   Dress parade, Undress parade. See under Dress, and
      Undress.

   Parade rest, a position of rest for soldiers, in which,
      however, they are required to be silent and motionless.
      --Wilhelm.
      [1913 Webster]

   Syn: Ostentation; display; show.

   Usage: Parade, Ostentation. Parade is a pompous
          exhibition of things for the purpose of display;
          ostentation now generally indicates a parade of
          virtues or other qualities for which one expects to be
          honored. "It was not in the mere parade of royalty
          that the Mexican potentates exhibited their power."
          --Robertson. "We are dazzled with the splendor of
          titles, the ostentation of learning, and the noise of
          victories." --Spectator.
          [1913 Webster]

WordNet (r) 3.0 (2006):

parade ground
    n 1: an area for holding parades

Moby Thesaurus II by Grady Ward, 1.0:

58 Moby Thesaurus words for "parade ground":
   agora, amphitheater, arena, athletic field, auditorium, background,
   bear garden, bowl, boxing ring, bull ring, campus, canvas, circus,
   cockpit, coliseum, colosseum, course, field, floor, forum, ground,
   gym, gymnasium, hall, hippodrome, lists, locale, marketplace, mat,
   milieu, open forum, palaestra, pit, place, platform, precinct,
   prize ring, public square, purlieu, range, ring, scene,
   scene of action, scenery, setting, site, sphere, squared circle,
   stadium, stage, stage set, stage setting, terrain, theater,
   tilting ground, tiltyard, walk, wrestling ring