All employees are given three weeks 'vacation'. [=they will be paid for 15 days that they do not work per year]
His parents have a beautiful 'vacation home' [=a house that someone lives in during vacations] by the lake.
She spent most of her 'long vacations' [=summer vacations] at her parents' house.
(..) of in ... ...I didn't anticipate playing Frodo again or ever returning to Middle-earth. And, in a way, it kind of feels like vacation for me... ...because I get to return to New Zealand and see old friends, so it's just all fun. I have none of the, heh, responsibility that I had before. (..)2012 The Hobbit: An Unexpected Journey