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.
(..) Ooh, this makes it perfectly clear! My boy, you are allergic. - Allergic? - Yes, and there is only one cure. - A vacation on Pleasure lsland! - Pleasure lsland? Yes, that happy land ofcarefree boys... where every day is a holiday! - But l can't go. l-- - Why, ofcourse you can go. (..)1940 Pinocchio