The most common and most likely answer to this crossword clue is the 7 letter word PARTIES
I've seen this crossword clue in The Times
P
A
R
T
I
E
S
Buddy explains!

The straight part
We know that "Celebrations" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case celebrations = parties.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does PARTIES mean?
PARTIES noun- A person or group of people constituting a particular side in a contract or legal action.
- A person.
- A group of people forming one side in a given dispute, contest etc.
- A political group considered as a formal whole, united under one specific political platform of issues and campaigning to take part in government.
- A discrete detachment of troops, especially for a particular purpose.
- A group of persons collected or gathered together for some particular purpose.
- A part or division.
- To celebrate at a party, to have fun, to enjoy oneself.
- To take recreational drugs.
- To engage in flings, to have one-night stands, to sow one's wild oats.
- To form a party (with).