holiday >> ˈhɒlɪdeɪ
Definition: [noun] an extended period of leisure and recreation, especially one spent away from home or in travelling.
Example: I spent my summer holidays on a farm
Definition: [noun] a short period during which the payment of instalments, tax, etc. may be suspended.
Example: a pension holiday
Definition: [verb] spend a holiday in a specified place.
Example: he is holidaying in Italy