Holiday with kids

Hi, both myself and my wife are planning a year end holiday with our kids 4 and 1.5 years old. We hear from some people that it will be wise to go with tour package as everything is planned for you. But at the same time we also hear from another group of people that should not go with tour package but go free and easy as tour package has many restrictions like early morning call and stuff like that. So I would like to get some advise which way is a better choice for a holiday with young kids.