Vail Resorts Inc through its subsidiaries operates mountain resorts and urban ski areas in the United States It operates through three segments Mountain Lodging and Real Estate The Mountain segment operates 37 destination mountain resorts and regional ski areas This segment is also involved in the ancillary activities including ski school dining and retailrental operations as well as real estate brokerage activities The Lodging segment owns andor manages various luxury hotels and condominiums and other lodging properties under the RockResorts brand various condominiums located in proximity to the companys mountain resorts destination resorts and golf courses as well as offers resort ground transportation services This segment operates owned and managed hotel and condominium units The Real Estate segment owns develops and sells real estate properties The company was incorporated in 1997 and is based in Broomfield Colorado