Scott's novel way to hold a wild revel (8)

I believe the answer is:

waverley

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'scott's novel' is the definition.
I can't tell whether this defines the answer.

'way to hold a wild revel' is the wordplay.
'to hold' indicates putting letters inside.
'a wild' indicates an anagram.
'revel' with letters rearranged gives 'verle'.
'way' enclosing 'verle' is 'WAVERLEY'.

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(Another definition for waverley that I've seen is " Novel (series) by Sir Walter Scott".)

I've seen this clue in the Evening Standard.

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