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Vail Resorts Chief Financial Officer, Jeff Jones,
to Retire at End of Year

BROOMFIELD, Colo., Aug. 14, 2012-- Vail Resorts, Inc. (NYSE: MTN) announced today that Jeffrey W. Jones, chief financial officer and president of the Company's lodging, retail and real estate businesses, will be retiring effective Dec. 31, 2012. The Company will begin an immediate search for his replacement and Mr. Jones intends to remain engaged, as needed, beyond his retirement date to ensure a smooth and orderly transition.

"On behalf of our board of directors and our entire senior management team, I want to thank Jeff for his incredible contributions to our Company over the past nine years," said Rob Katz, chairman and chief executive officer. "Jeff has been instrumental in so many aspects of the Company's success, leading numerous strategic initiatives, acquisitions and financing transactions, overseeing key business units, stewarding our capital allocation efforts and helping to steer our performance through some challenging external environments. While our management team and our board will all miss Jeff's counsel, I know that he leaves the Company in an incredibly strong financial position, with a terrific track record of performance and poised to pursue a number of new growth initiatives. We all wish Jeff the best in this new chapter in his life."

"It has been a special privilege to work with everyone at Vail Resorts and serve on its board of directors and I am incredibly proud of all of our accomplishments," said Mr. Jones. "While I have decided that now is the right moment for me to spend more time with my family, I could not be more confident in the opportunities that are ahead of Vail Resorts and the strength of the entire leadership team of the Company."

About Vail Resorts

Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States. The Company's subsidiaries operate the mountain resorts of Vail, Beaver Creek,Breckenridge and Keystone in Colorado, and Heavenly, Northstar and Kirkwood in the Lake Tahoe area of California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The Company's subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com

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Contact:

www.vailresorts.com

 
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Also See: Vail Resorts Appoints Michael Barkin as Vice President of Strategy and Development / July 2012

Vail Resorts to Acquire Kirkwood Mountain Resort in Lake Tahoe, California; Adding a Third Resort to its Tahoe Region Portfolio / February 2012

Vail Resorts Reorganizing Lodging Division; Will No Longer Seek to Add New RockResorts Properties Outside of its Mountain Resorts; Staff Reductions Anticipated / December 2011

RockResorts, a Subsidiary of Vail Resorts, and Owners of the Tempo Miami Hotel Mutually Agree to Terminate Management Agreement for Property / September 2011

Vail Resorts Enters Franchise Agreement Bringing the DoubleTree by Hilton to Breckenridge, Colorado; Currently the Great Divide Lodge, Property to Undergo Conversion and will Rebrand as DoubleTree by Hilton Breckenridge / July 2011

Vail Resorts Names Kirsten Lynch as Chief Marketing Officer / June 2011

Vail Resorts Names Paul G. Toner Senior Vice President & Chief Operating Officer of RockResorts and Vail Resorts Hospitality / September 2009

RockResorts and Vail Resorts Hospitality Names Paul Toner as Vice President of Sales and Marketing / February 2008
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