Holiday Retirement

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Holiday Retirement Corp. is a privately held company headquartered in Lake Oswego, Oregon. Holiday Retirement currently owns and operates 310 independent retirement living communities in the U.S. and Canada, serving more than 30,000 residents. With 36,713 total units, Holiday Retirement is North America's largest provider of independent senior retirement living by capacity.[1] The company is the fifth largest owner of all senior housing in the United States.[2]

History[edit]

William E. Colson and his father Hugh Colson founded Holiday Management Company in Salem, Oregon in 1971.[3] 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.

Holiday Retirement’s first nine communities were exclusively in the western region of the United States (Washington, Oregon, California, and Idaho). The company first 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.

The company's name changed to Holiday Retirement Corp. 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.[3] Holiday Retirement communities are present in 43 U.S. states and seven Canadian provinces. Holiday Retirement employs more than 11,000 people.

The company was headquartered in Salem, Oregon from inception in 1971 until April 13, 2012. Headquarters were officially relocated to Lake Oswego, Oregon on April 16, 2012.[6]

Business model[edit]

Holiday Retirement is widely recognized as the pioneer of independent retirement living communities.[3] Each community provides private apartments or cottages for seniors. Services include three meals daily, live-in management teams, transportation, housekeeping, and activities. Virtually all services, amenities and utilities are combined into a month-to-month rental payment.[7]

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.

Residents of Holiday Retirement can use outside home health care services to meet additional needs. Holiday Retirement apartments also include emergency pull cords that notify managers of emergency situations.

One of the distinct features of Holiday Retirement is an exclusive travel program. Residents and employees can book guest apartments at nearly any other Holiday Retirement property free of charge. Guest suites can be booked up to seven days. Meal service, transportation and nearly all other services are included at no additional cost.[8]

Philanthropy[edit]

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]

Holiday Retirement has organized multiple national fundraising initiatives, donating $82,500 to the American Cancer Society during its 2010 Move for a Cure campaign [10] and $1.2 million to the Outward Bound for Veterans program during a three-month drive that began in late 2011.[11]

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.

Veterans initiatives[edit]

More than 12,000 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.[12]

Holiday Retirement’s U.S. communities also provide educational resources and host free seminars on the Department of Veterans Affairs’ Aid and Attendance benefits program. The Aid and Attendance benefits are designed for senior veterans and surviving spouses.

General Hugh Shelton, the 14th Chairman of the Joint Chiefs of Staff, endorsed Holiday Retirement in 2011 for its commitment to educating veterans and surviving spouses about available benefits.[13]

Holiday Retirement also supports AMVETS.

Management[edit]

  • President & Chief Executive Officer: Kai Hsiao
  • Chief Operating Officer: Roger Aufieri
  • Chief Financial Officer: Scott Shanaberger
  • Chief Information Officer: Sheila Donahoe
  • Chief Legal Officer: Chris Bouchard
  • General Counsel: R. Scott Wood
  • Chief Human Resources Officer: John Cripe
  • EVP – Sales: Shamim Wu

References[edit]

External links[edit]