Holiday Retirement

Holiday Retirement, originally known as Holiday Management Company, is a senior living management company with headquarters in Winter Park, Florida. Founded in 1971 by William E. Colson and his father Hugh Colson, Holiday Retirement is a privately held company that currently manages 260 retirement communities and houses over 30,000 residents throughout the U.S. - making it one of the largest providers of independent senior living.[1]

Holiday Retirement
TypePrivately held company
IndustryIndependent Living and Assisted Living for Seniors management
Founded1971 (1971) in Salem, Oregon
FounderWilliam E. Colson and Hugh Colson
Headquarters
Winter Park, Florida
,
United States
Area served
United States
ParentFortress Investment Group
WebsiteHoliday Retirement (official website)

History

William E. Colson and his father Hugh Colson founded Holiday Management Company in Salem, Oregon in 1971.[2] William Colson also served as President and Managing General Partner for Holiday Management Company’s in-house Colson & Colson General Contractor, Inc. The company’s first community, Kamlu Retirement Inn-Vancouver, opened in Vancouver, Washington on November 1, 1971. Holiday Management Company added a second community, Edgewood Downs, in Beaverton, Oregon on June 1, 1977.

Modern growth

Holiday Retirement’s first nine communities were exclusively in the western region of the United States, including (Washington, Oregon, California, and Idaho). The company expanded east by opening Harrison Regent in Ogden, Utah on July 1, 1985. Communities were also built in Pueblo, Colorado; Colorado Springs, Colorado; and Amarillo, Texas in 1985. The Victorian became Holiday Retirement’s first Canadian community, opening on August 1, 1987 in Victoria, British Columbia; however, Holiday Retirement sold its Canadian communities in 2014.[3]

The company's name changed to Holiday Retirement in 1987,[4] and it added multiple communities to the portfolio every year from 1988 to 2009. The company's largest growth occurred in 1998 and 1999 with the addition of 22 properties in each year.

Colson sold Holiday Retirement in 2007 to Fortress Investment Group LLC of New York.[5] Colson died of colon cancer on May 20, 2007.[2] Upon selling Holiday, Colson agreed to a five year stay on building new retirement communities and then in their sixth year began building under the name "Hawthorn."

Holiday Retirement headquarters were officially relocated to Lake Oswego, Oregon on April 16, 2012. Five years later, the company announced it would bs moving their headquarters again to Winter Park, Florida in April 2017. The move was completed in July 2017.

Fortress Investment Group became a subsidiary of Softbank Group in December 2017.

Business model

Holiday Retirement was one of the first companies in the U.S. to develop independent living communities for seniors.[2] Each community provides private apartments or cottages. Unlike nursing homes or assisted living communities, independent retirement living communities do not provide skilled nursing or assistance with daily activities such as bathing, dressing, eating, or taking medication. However, residents of Holiday Retirement can use outside home health care services to meet additional needs.

Philanthropy, veterans initiatives, and wellness programs

Holiday Retirement developed the Seniors Serving Seniors and Seniors Serving Society program, which coordinates volunteer opportunities for residents. The program was awarded in 2007 by the International Council on Active Aging (ICAA).[6]

Residents support a variety of local drives and fundraisers, including Toys for Tots, the Buddy Bear Program, the American Red Cross, The Humane Society, local food banks, schools, police and fire, senior centers, and veterans-related causes.[7]

Many veterans and surviving spouses are residents of Holiday Retirement. The company is a National Founding Partner in the Library of Congress’ Veterans History Project, which collects and preserves veterans’ personal accounts of war.[8]

Holiday Retirement developed the Seniors Serving Seniors and Seniors Serving Society program, which coordinates volunteer opportunities for residents. The program was awarded in 2007 by the International Council on Active Aging (ICAA).[9]

Awards and recognition
  • 2017 - 2019: Holiday communities have been recognized in SeniorAdvisor.com's annual "Best of Awards" and in Caring Stars' annual awards.
  • 2019 - 2020: Named a "Best Place to Work" by Fortune's list of Best Workplaces for Aging Services[10]

References
  1. http://www.alfapublications.org/alfapublications/march_april_2014#pg26
  2. http://www.bizjournals.com/portland/stories/2007/07/02/story9.html
  3. http://seniorhousingnews.com/2014/08/20/ventas-completes-29-property-holiday-deal-atria-takes-over-operations/
  4. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=943285
  5. http://www.bizjournals.com/portland/stories/2006/12/25/daily1.html
  6. "Archived copy". Archived from the original on 2012-06-25. Retrieved 2012-05-18.CS1 maint: archived copy as title (link)
  7. http://www.holidaytouch.com/about-us/community-giving
  8. https://www.loc.gov/vets/partners/partners.html
  9. "Archived copy". Archived from the original on 2012-06-25. Retrieved 2012-05-18.CS1 maint: archived copy as title (link)
  10. https://www.greatplacetowork.com/best-workplaces/aging-services/2019
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