Holiday in Georgia ending in debauchery – that’s a positive thing? (9)

'holiday' is the definition.
Both the answer and definition are singular nouns.
Maybe there's an association between them I don't understand?

'georgia ending in debauchery that's a positive thing?' is the wordplay.
'georgia' becomes 'GA' (abbreviation).
'ending in' says to take the final letters.
'that's a positive thing?' becomes 'cation' (I can't explain this - if you can you should believe this answer much more).
The final letter of 'debauchery' is 'y'.
'ga'+'y'+'cation'='GAYCATION'

'in' acts as a link.

Can you help me to learn more?