A third of the one in seven over 50s who have been on holiday with their children and grandchildren paid for the whole trip, shelling out an average total of £4,000, according to new figures from specialist insurer Saga.
And one in 10 over 50s are planning holidays with the next two generations of their families within the next 12 months, with Spain, the USA and France the most popular destinations for intergenerational breaks.
Kevin McMullan, head of travel insurance at Saga, said: "It's great to see so many families going away and spending quality time together. A lot of over 50s are making this happen by being so generous and paying for the trip."
Intergenerational holidays are popular with grandparents keen to spend time with their grandchildren, as well as with parents who can get more time to themselves thanks to having trustworthy babysitters on hand.
"Going on holiday with the whole family is great for everyone," McMullan said. "Parents can recharge their batteries and enjoy some adult time together, while grandparents can create precious memories playing games with their grandchildren and the kids get to spend time with all their favourite adults."
One in six grandparents have taken their grandchildren overseas without their parents in the last five years and a further one in 10 are planning to do so within the next year.