Since the 1960 Olympics, Squaw Valley, Calif., has been known as a major ski resort. Its dimensions - 2,850 vertical feet, 4,000 acres of skiing, 26 chairlifts, a tram and a gondola - support the label, but Squaw Valley has never had sufficient overnight accommodations within walking distance of lifts.

The Resort at Squaw Creek, which opened Dec. 20, seeks to change that with its 405 rooms and suites, which have been added to the 60 rooms and 300 condominium units that previously existed at the base of the mountain.

The new resort is about a half-mile from the main base lodge. A high-speed triple chairlift takes skiers to the top of Snow King Mountain (formerly Red Dog Peak) at 7,550 feet, from which they can ski to lifts, trails and base facilities.

The Squaw Creek resort consists of two buildings, a nine-story hotel and a shorter structure with restaurants, retail shops, fitness center and conference rooms. In addition to skiing, Squaw Creek, on Lake Tahoe, offers skating and cross-country skiing in winter.

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Tourists may now visit four cities in the Soviet Union that had been closed: Cherski (within the Arctic Circle), Yakutsk (on the Lena River), Vladivostok (the Soviet Union's main Pacific port) and Magadan (the point from which prisoners were sent to the gulags of the Soviet Far East).

Tours have been arranged by Baylis International Journeys, appointed by Intourist. A 12-day tour is planned on May 22, offering five itineraries and ranging in price from $1,950 to $2,550 from the West Coast. A 19-day trip is planned for Sept. 12. It will cost $3,785, including air fare from New York.

Details: Baylis International Journeys, 2392 Telegraph Avenue, Berkeley, Calif. 94704; (415) 849-9572 or (800) 435-4334 outside California.

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This year, England celebrates the 500th anniversary of the birth of Henry VIII. Hampton Court Palace, west of London, is first to celebrate with its exhibit "Henry VIII - Images of a Tudor King" in the Renaissance Picture Gallery.

Tracing the evolution in images of Henry from accession in 1509 to his death 38 years later, the exhibit includes the only surviving portrait of him, a copy of one painted by Hans Holbein the Younger.

Admission to the exhibit is included in the entrance fee to Hampton Court Palace: $8, $5 for children. Hours: 9:30 a.m. to 4:30 p.m. daily; information, dialed locally, 977 8441.

Another exhibit, "Henry VIII at Greenwich," is planned May 1 to Aug. 31 at the National Maritime Museum in Greenwich on the site of the jousting field and armories Henry built at Greenwich Palace. He and daughters Mary and Elizabeth were born there.