Strange as it may sound, Luther and Nora Krank, the neighbourhood's award-winning couple for their cheerful Christmas spirit, have decided to skip this year's annual festivities when their daughter, Blair, departs for Peru after joining the Peace Corps. Now, instead of spending the staggering amount of $6,000 on the holiday season, just like the previous year, they are determined to invest the money on a sun-drenched, ten-day Caribbean cruise, much to the chagrin of their friends and neighbours. However, this is easier said than done, and before long, Luther and Nora, who have turned their backs on Christmas, will face the consequences. And then, as if that weren't enough, Blair and her new fiancé announce that they are coming home, utterly unaware that the empty family nest is far from ready for the event. Can the Kranks "generate" Christmas out of nothing in less than a few hours?