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)

Holiday Retirement, originally known as Holiday Management Company, is a U.S. 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 240 retirement communities with over 25,000 total residents, making it one of the largest providers of independent senior living.[1]

History

William E. Colson and his father, Hugh Colson, founded Holiday Management Company in Salem, Oregon in 1971.[2] William Colson was also President and Managing General Partner for Holiday Management Company’s in-house company, 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 only in the western United States, largely in 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 acquired or built multiple communities every year from 1988 to 2009. The company's largest growth occurred in 1998 and 1999 with the addition of 22 properties in both years.

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, they 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 be moving its 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 such as Holiday Retirement do not themselves provide skilled nursing or assistance with daily activities such as bathing, dressing, eating, or assistance with taking medication; their residents 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 programs, which coordinate 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 American Red Cross, and The Humane Society.[7] 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] Many veterans and veterans’ spouses are residents of communities owned by Holiday Retirement.

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

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[9]

References

  1. ↑ "Assisted Living Executive to Senior Living Executive - March/April 2014". Archived from the original on 2014-04-06.
  2. 1 2 3 "Oregon man leaves legacy as senior-housing pioneer - Portland Business Journal". Archived from the original on 2009-04-30.
  3. ↑ "Ventas Completes 29-Property Holiday Deal, Atria Takes over Operations". 20 August 2014.
  4. ↑ "HRC Investors Corp - Company Profile and News - Bloomberg Markets".
  5. ↑ "Investor buys Holiday Retirement - Portland Business Journal". Archived from the original on 2007-01-09.
  6. 1 2 "ICAA awards programs recognizes innovators in active-aging". Archived from the original on 2012-06-25. Retrieved 2012-05-18.
  7. ↑ "Holiday Retirement: Independent Senior Living Provider".
  8. ↑ "List of Founding Partners (Veterans History Project, Library of Congress)". Library of Congress.
  9. ↑ "Best Workplaces for Aging Services™ 2019".
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