A generation of 20-somethings are holidaying with their parents to save money amid the recession, according to new research. The new breed of holidaymakers – dubbed HOMADs because they Holiday on Mum and Dad – are turning to their parents for a cheap break. More than half (52%) of those in their twenties are considering a trip away with their parents this year, with 14 per cent of those saying they already have something booked. But while 17 per cent say they are doing it because they want to feel like a kid again, 30 per cent admit it’s because they know their parents will pick up the tab.

Courtney Wylie, MD of holiday home website Holiday-Rentals.co.uk, which carried out the study said: "As young people suffer in the credit crunch, more 20-somethings than ever are choosing to go on holiday with their folks. Holiday costs can soon add up, but children – of all ages – shouldn’t be embarrassed by turning to their parents for financial help. Going away as a larger group can really help to keep the costs down and holidaying with your parents can even help you recreate the fun trips you had as a child."

The poll of 2,500 Brits revealed that three quarters reckon their parents would pay something towards the cost of the holiday, with a lucky 18 per cent of those saying their parents will foot the entire bill. And almost 77 per cent also claimed their mum and dad would pay for food and drink while on the trip. A cheeky 64 per cent even admitted they would happily go away with family who offered to pay, even if they couldn’t stand spending a lot of time with them.

But it’s not just the younger generation who are going away with parents. More than half of Brits (55%) are considering holidaying with extended family and 19 per cent already do this.

Fifteen per cent said they would consider it because grandparents would help look after the kids, but two thirds would just do it to spend quality time together.

Another two thirds would think about travelling with a group of friends if it was cheaper than going alone and three quarters reckon they would have more fun. Almost 20 per cent also think their children would be more entertained if other children were with them.

Wylie, of Holiday-Rentals.co.uk added: “Travelling in a group with family or friends is not only a great way to cut the cost per head of your holiday, it also helps re-establish important bonds. In our time-poor world, holidays have become a key time for people to re-connect and we really value that time together. Renting a large holiday home is the perfect solution as it’s very reasonable per head, plus provides more living space, such as separate bedrooms, dining rooms, lounges, gardens and pools.”

Holiday-Rentals.co.uk is the UK’s largest holiday home rentals website, listing over 180,000 properties worldwide, including thousands of larger homes suitable for a break with extended family or friends.