Crossword Genius

Party with its share of famous guests? (11)

Ross

I believe the answer is:

celebration

I'm a little stuck... Click here to teach me more about this clue!

'party' is the definition.
(I've seen this before)

'its share of famous guests?' is the wordplay.
I cannot quite understand how this works, but
'share' could be 'ration' (ration is a kind of share) and 'ration' is located in the answer.
The remaining letters 'celeb' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

'with' is the link.

Can you help me to learn more?

(Other definitions for celebration that I've seen before include "Revelry" , "Festival" , "Festivity to mark a happy event" , "Jollification" , "The marking of a significant event" .)

I've seen this clue in The Times.
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