Translation:It is a party.
Can't you translate it as celebration?
Probably not, because the Danish word for celebration is fejring.
Oh ok thanks! :)
Hmm. There is that film Festen, which was translated as The Celebration. http://www.imdb.com/title/tt0154420/
I think The Party would be a bit of a misleading title for that movie, and I'm guessing the translators thought the same.
Not to mention that movie title translators tend to get a little creative.