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a destination, event or activity that is specifically targeted for, or is especially appealing to, old people.
Ex#1: Sarah's parents invited us on their annual graycation to Branson.

Ex#2: We thought it would be fun to hang out with Frank and Tanya but all they wanted to do was go antiquing and it turned into a total graycation.
by Dawax July 06, 2009
Taking time away from family and work to care for an aging relative.
Dude, if you think a staycation is bad, try a graycation.
by Silly Marmot August 05, 2010