Zell am See and Cortina D'Ampezzo

European vacations, a casualty of the dollar's depreciation in the mid-1980s, are back in vogue again. The dollar's rehabilitation means that for both the budget traveller and sophisticate alike, it pays to head to the Continent.

August is one of the most popular months for American travel overseas. But Europe can be glorious in September and October. The weather in early fall is, if anything, better suited to tourism and active leisure. And, better yet, the traveller who waits will miss the gridlock of summer crowds and tour buses.

For visitors looking for European getaways high on mountain scenery, active leisure pursuits, and the best of refined European culture, two resort areas stand out.

Zell am See, a beautiful four season resort rising precipitously from the shores of the Zeller Lake, just down the road from its more famous neighbor, Kitzbuhel, is a favorite, particularly of Scandinavians and Dutch, who motor down for weekends to enjoy Zell am See's easy familiarity and the wonderful views from its mountain vistas. This is the real alpine Austria, not some hackneyed imitation. The town traces its history to 740, when monks from Salzburg -- just 50 miles away -- formed a settlement beneath the Schmittenhohe mountain.

Accessible by train and automobile, it offers an invigorating haven for travellers anxious for a respite from an itinerary of museums and monuments.

Munich is only three hours distant by auto. Salzburg -- the Sound of Music city and the birthplace of Mozart, is only a hour's train ride distant. For those who find themselves in Vienna, direct trains bound for Zell am See leave frequently. A grand lunch, served on white table cloths, eaten while enjoying the passing scenery, is an appropriate introduction to Zell am See's charm. There is also a small airport for light aircraft at nearby Schuttdorf.

Zell am See, and its smaller neighbor to the north, Kaprun are situated on the northern part of the Austrian high alpine range. The town sits in a small mountain valley, dominated by 10,000 foot plus mountain peaks and a large lake or sea[See]. The combination of mountains, water, and level terrain have combined to make Zell am See a four season alpine paradise. There are countless paths to for hiking and leisurely strolls, around the lake as well as into the mountains. For the adventurous, a morning walk along well marked paths offers panoramic views of the mountain valley. For those preferring a quicker, less strenuous outing, Zell am See's ski lifts stand at the ready.

The Austrians have smartly placed wonderful restaurants in numerous places over the entire mountain complex. Sampling something of Austria's hearty fare is a required part of the Zell am See experience. There is no need to recommend any mountain side restaurant in particular, though I became particularly partial to one near Mittelstation on the main mountain, about 5000 feet above the town. Lunch here could be ordered cafeteria style -- great plates of spaghetti which visitors take to outside tables and wash down with a glass of wine -- or at the restaurant proper where a waiter sporting a pen made from an elk's antlers took my order for a delicious steak.

The waterfront boasts a wide variety of sailing and motorboat excursions, not to mention swimming and a fine walking path that runs around the lake's circumference. The area also claims one of the best holiday golf courses in Europe, designed by Britain's Donald Harradine. And there is a community sauna, so typical of unspoiled northern European life, where visitor's are welcome. After an informal three hour regimen, my body felt as loose as the Tin Man's after oiling.

There are a number of winning excursions from Zell am See. Innsbruck and nearby Vipiteno, Italy -- just the other side of the Brenner Pass are only a couple of train stops away. Similar organized excursions, arranged daily through the tourist office, [Zell am See Tourist Office, A-5700 Zell am See; or tel.(06542) 26 00] are available to Badgastein, the famous spa. For those desirous of some fastlane nightlife or casino gambling, Kitzbuhel is a short drive or train ride away. You can easily spend the evening and return to the more sedate surroundings of Zell am See.

Accommodations range from the five star Hotel Saltzburgerhof to modest pensions, where a private room with two meals and a mountain view can be had for less than $100 a night. A complete listing is available from the local tourist office or the Austrian National Tourist Office in New York, [212-944-6880 or 800-223-0284].

Just the other side of the Brenner Pass in the heart of the Dolomite mountain range lies Cortina D'Ampezzo, a chic Italian village which has not forgotten its Austrian roots. Perhaps best known as one of Italy's premier ski resorts, Cortina, a glorious 80 miles from Venice, is a wonderful spot to simply relax and enjoy the charms of Italy's Veneto region and to marvel at the precipitous mountain peaks that rise above the village.

Cortina offers a respite from heat and bustle of the city as well as some of the best walking and hiking in Italy. And the town's fine shops, and elegant cafes and hotels like the Grand Hotel Savoia make it a magnet for those desirous of unhurried leisure in an ambience of chic nonchalance -- a perfect place to unwind after the often-too-frantic tour of Italy's artistic and monumental treasures.

Cortina's walking paths are not to be missed. There are over 300 kms of minor roads and footpaths starting in the town and leading into the heart of the Dolomite range. The Cortina Group of Alpine Guides organizes daily excursions for every level of adventurer -- from the amateur stroller to the professional mountaineer. While some of these walks can be taxing, the rewards are unsurpassed. The terrain is lovely and often as not, there is a wonderful restaurant or 'refuge', often complete with overnight accommodations, whatever your destination. After an invigorating four hour walk up to Lake Federa, my wife and I dined on pasta, meat, and a bottle of red wine at one such refuge before walking down a supply road frequented by bell-ringing cows. The local tourist office [1 32043 Cortina D'Ampezzo or tel. (0436) 3231] offers expert guidance about walking tours, strolls, and lakeside picnic areas, as well as directions to the cable cars running throughout the summer and fall seasons. In the US, the Italian National Tourist Office in New York [212-245-4822] offers some basic tourist information.