A method of being on holiday (4)
I believe the answer is:
away
'on holiday' is the definition.
(away from one's home)
'a method' is the wordplay.
'method' becomes 'way' (way of doing something).
'a'+'way'='AWAY'
'of being' acts as a link.
(Other definitions for away that I've seen before include "At a distance, from home say" , "Location of match played on opponent's ground" , "(Of match) not 8 across" , "playing at United?" , "(Of sports fixture) at opponents' ground" .)