欢度 takes a stretch of time as its object — typically a holiday (
欢度春节,
欢度中秋), a vacation (
欢度假期), or a milestone birthday (
欢度生日). Compare
庆祝 (qìngzhù, to celebrate), which takes the celebration as its object and emphasizes the act of celebrating;
欢度 emphasizes happily passing the time.