Honoured with festivities (5)
I believe the answer is:
feted
'honoured with festivities' is the definition.
(I've seen this before)
This is the entire clue.
(Other definitions for feted that I've seen before include "Honoured lavishly" , "Wined and dined, celebrated" , "Lionised" , "Honoured with festivities" , "Wined, dined and honoured" .)