By reading the newspaper after a holiday weekend, you can see that there is an increase in crime. From drunk driving incidents to armed robberies, reported crime skyrockets after a long weekend. This probably happens because more people are partying with alcohol and drugs during those times. It seems to be a long-standing problems though. After all, celebrating Christmas used to be illegal because the holidaymakers got to rowdy.
I believe that holiday weekends equal higher crime rates because many people go out of town or over to a neighbor or friends house, leaving their own home empty. Criminals and burglars know this. They take advantage of the home being vacant. Another factor could be that there are much more crowded public areas in use during a holiday. Crowds of people can lead to violent outbursts or petty theft.
I think people are more occupied by each other and entertaining themselves than they are with committing crimes. Ultimately, this is a hard-evidence question, and you'd be better served by asking statistics than asking people for their opinions, but if you're asking for my guess, I'd say people would rather sleep in and enjoy the party than commit crimes.
I believe holiday weekends do not equal higher crime rates because people (including criminals) are more likely to be spending time with their family. It is more noticeable if someone is missing over Christmas than an average weekend, giving criminals less of an easy out. I also truly believe people are more caring during holidays.