celebrate in WordNet English dictionary

1. have a celebration
   "They were feting the patriarch of the family"; "After the exam, the students were celebrating"
   celebrate  fete 
   
2. behave as expected during of holidays or rites
   "Keep the commandments"; "celebrate Christmas"; "Observe Yom Kippur"
   observe  celebrate  keep 
   
3. assign great social importance to
   "The film director was celebrated all over Hollywood"; "The tenor was lionized in Vienna"
   lionize  lionise  celebrate