Vail Resorts, Inc. operates mountain and urban ski areas in the US, with three main segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 37 destination resorts and offers ancillary activities such as ski school, dining, and retail/rental services as well as real estate brokerage. Meanwhile, the Lodging segment manages luxury hotels and condominiums, lodging properties under the RockResorts brand, and golf courses, while the Real Estate segment develops and sells properties.