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.
(..) Mom is, of course, moving to Genovia with me... and will continue painting-- without the balloons. Lilly and Michael are spending their summer vacation... at our-- can you believe it--palace. They're even having my Mustang brought over... which l can legally drive (..)2001 The Princess Diaries