What happens after a watch party ends?

The chat stays open 24 hours, and a replay card sits on Community for 7 days.

The party's chat stays open for 24 hours after the end, then closes.
A public party becomes a replay card in Community's Highlights & replays for 7 days.

Watch the replay opens the episode's watch page (members only).

After the 7 days, the party is archived and its link goes to the Watch Party Ended page.
Private parties, and parties for a title with nothing to watch, get no replay card.