"Here's the run-down and my honest opinions...
The benefits of the program are what you make of it. There is some potential to make some great connections if you work hard and represent yourself positively around Killington. The ski industry is a very small community and most everyone knows everyone else. Keep that in mind if you want to work in the industry. Networking and making connections will get you far.
You will more than likely work weekends, no matter what job you get. It's the truth of the industry. We work when everyone else has off to play. I've got a flexible schedule this year for my internship (Retail Advertising & Marketing), so I take days off on weekends here and there, but you should expect to work most weekends during the ski season. The good part is that you days off mid-week when the mountain is EMPTY and can get out and have the mountain entirely to yourself. Co-ops are just working. No classes from Thanksgiving through Mid-March. You do meet once a week on Tuesdays to discuss your experiences (namely bitch about how Killington could improve, haha) and you have a very minor assignment due each week usually (total walk in the park if you are not a retard basically). Fall and Spring are a normal 5 or 6 class courseload, Monday-Friday.
As for jobs at co-op, it is entirely up to you to choose and get the job. Some people take jobs that will be fun, and let them ski the most. Might be fun at first, but make sure you keep your long term goals in mind and try to get a job that will benefit you the most in the long run.
The fall and spring class terms are meh... Not a ton of workload by any means, and you will grow to DESPISE the main Poultney Campus very quickly unless you are a bleeding heart hippy. Honestly, the workload is very easy overall and I feel as if I haven't really learned much from the classes but the hands-on experience at Killington has been very positive and I have a solid resume coming out.
Other big drawback is how expensive it is. Keep that in mind if you will be paying for it yourself and will be coming out with student loans.
If you have any other questions though, just ask! Also, I'm an older student (25 right now, took some years off from school after one semester for Graphic Design back in 2003). i worked full-time straight through classes and lived up here year round. My jobs at Killington have been Front Desk at the Killington Grand Hotel (Co-op I), Retail Associate & Inventory Reporting (co-op II), Concierge at Killington Grand Hotel (summer job), and now I am the Retail Advertising & Marketing Specialist for Killington & Pico (internship/job). My end goal is marketing/communications."