Vail Resorts hopes the ski vacation business is all uphill. One of North America's leading ski resort operators, Vail Resorts operates four mountain resorts in Colorado (Beaver Creek, Breckenridge Mountain Resort, Keystone Resort, and Vail Mountain) and three in Lake Tahoe on the California/Nevada border (Heavenly Mountain, Northstar-at-Tahoe, and Kirkwood Mountain Resort). The resorts operate under the company's Mountain segment. Through its Lodging segment, the firm owns or manages about 20 resorts in Canada, Colorado, Utah, and Wyoming. It also operates seven golf courses. Vail Resorts also has a Real Estate Development segment that develops real estate in and around the company's resorts.