Celebrate (verb)

1. To observe (a day or event) with ceremonies or festivities.
2. To do honor or show respect for.
3. To perform (a sacrament or solemn ceremony) publicly and with appropriate rites.
4. To mark a special occasion or event with ceremonies or festivities.

Origin:

Middle english celebraten, from latin celebrat-, celebratus, from the past participle of celebrare to frequent, celebrate, from celeber famous.

Examples:

1. They celebrated their anniversary.
2. She celebrated her birthday.
3. We celebrated Christmas.
4. They celebrated the victory.
5. The company celebrated its success.