After circling the words, here are the remaining letters:

M                                E     R

      R  Y        C  H  R  I  S        T

                  M  A  S  A  N          

      d     H  A        P     P   

                              Y   

 

                     N        E   

   W  Y     E  A  R                 T    

O  Y  O  U     A        N           D   

Y                    O     U  R     F  A

M              I     L  Y

The message reads,
"MERRY CHRISTMAS AND HAPPY NEW YEAR TO YOU AND YOUR FAMILY."