celebrate

(verb) behave as expected during of holidays or rites. Synonyms: observe, keep. Examples: "Keep the commandments." "Celebrate christmas." "Observe yom kippur."

(verb) have a celebration. Synonyms: fete. Examples: "They were feting the patriarch of the family." "After the exam, the students were celebrating."

(verb) assign great social importance to. Synonyms: lionize, lionise. Examples: "The film director was celebrated all over hollywood." "The tenor was lionized in vienna."