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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>As
      filed with the Securities and Exchange Commission on September 7,
      2007</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Registration
      No. 333-____________</strong></font></div>
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        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
        </div><br></div>
    </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Washington,
      D.C. 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>________________________</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>FORM
      S-8</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>REGISTRATION
      STATEMENT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>UNDER</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>THE
      SECURITIES ACT OF 1933</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>________________________</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>VAIL
      RESORTS, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Exact
      name of Registrant as specified in its charter)</font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Delaware</strong></font></div>
            </td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>51-0291762</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(State
                or other jurisdiction of incorporation or organization)</font></div>
            </td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(I.R.S.
                Employer Identification No.)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>390
                Interlocken Crescent, Suite 1000</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Broomfield,
                Colorado</strong></font></div>
            </td>
            <td valign="top" width="40%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>80021</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Address
                of Principal Executive Offices)</font></div>
            </td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Zip
                Code)</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Vail
      Resorts, Inc. 1999 Long Term Incentive and Share Award
      Plan</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Vail
      Resorts, Inc. Amended and Restated 2002 Long Term Incentive and Share Award
      Plan</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Full
      title of the Plan)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="center">
      <table cellpadding="0" cellspacing="0" width="60%">

          <tr>
            <td valign="top" width="84%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">________________________</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Fiona
                Arnold, Esq.</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Senior
                Vice President and General Counsel</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Vail
                Resorts, Inc.</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>390
                Interlocken Crescent, Suite 1000</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Broomfield,
                Colorado 80021</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>(303)
                404-1800</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Name,
      address and telephone number, including area code, of agent for
      service)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Copy
      to:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Richard
      J. Mattera, Esq.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Hogan
      &amp; Hartson LLP</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>One
      Tabor Center, Suite 1500</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1200
      Seventeenth Street</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Denver,
      Colorado 80202</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>(303)
      899-7300</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>CALCULATION
      OF REGISTRATION FEE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="27%">
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Title
                of securities</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>to
                be registered</strong></font></div>
            </td>
            <td valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Amount</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>to
                be</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Registered
                (1)</strong></font></div>
            </td>
            <td valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Proposed
                maximum</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>offering
                price</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>per
                share (2)</strong></font></div>
            </td>
            <td valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Proposed
                maximum</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>aggregate
                offering</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>price
                (2)</strong></font></div>
            </td>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Amount
                of</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>registration</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>fee
                (2(3))</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Common
                Stock, par value $.01 per share</font></div>
            </td>
            <td valign="top" width="11%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">4,191,429</font></div>
            </td>
            <td valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">$56.35</font></div>
            </td>
            <td valign="top" width="13%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">$198,820,465</font></div>
            </td>
            <td valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">$4,695.57</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="27%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="11%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="15%" style="BORDER-BOTTOM: black 4px double"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
                to Rule 416 under the Securities Act of 1933, as amended (the "Securities
                Act"), this registration statement covers, in addition to the number
                of
                shares of common stock shown above, an indeterminate number of shares
                of
                common stock that, by reason of certain events specified in the plan
                (e.g., anti-dilution adjustments), may become subject to such
                plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 23px">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2)</font></div>
            </td>
            <td width="962">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Estimated
                solely for the purpose of calculating the registration fee pursuant
                to
                Rules 457(c) and 457(h) under the Securities Act, based upon (A)
                the
                average of the high and low sales prices reported for the Registrant's
                common stock on the New York Stock Exchange on August 30, 2007 with
                respect to 2,900,400 shares of common stock at $56.35 per share,
                and (B)
                the weighted average exercise price of $27.43 per share with respect
                to
                outstanding share based awards for 1,291,029 shares of common
                stock.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 18pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(3)</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
                to Rule 457(p) under the Securities Act, the amount of registration
                fee
                has been offset by $1,409.13, which is the aggregate total dollar
                amount
                of the filing fee associated with 1,114,765 shares of Common Stock
                which
                were offered under a registration statement on Form S-8 filed with
                the
                Commission on December 8, 2003 (File No. 333-111020) and remained
                unsold
                at the termination of the offering and deregistered pursuant to
                Post-Effective Amendment No. 1 to the registration statement on Form
                S-8
                filed on September 7, 2007 (File No.
                333-111020).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div><br></div>
    </div><br>
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      </div>
    </div><br>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PART
      I</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      REQUIRED IN SECTION 10(a) PROSPECTUS</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Plan
      Information.*</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Registrant
      Information and Employee Plan Annual Information.*</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 18pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">*</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                documents containing the information specified in Part&#160;I will be sent
                or given to participants in the Vail Resorts, Inc. 1999 Long Term
                Incentive and Share Award Plan and the Vail Resorts, Inc. Amended
                and
                Restated 2002 Long Term Incentive and Share Award Plan (collectively,
                the
                &#8220;Plans&#8221;) as specified by Rule&#160;428(b)(1)&#160;under the Securities
                Act.&#160;&#160;Pursuant to the Note to Part&#160;I of Form&#160;S-8, such
                documents will not be filed with the Securities and Exchange Commission
                (the &#8220;Commission&#8221;) either as part of this registration statement or as
                prospectuses or prospectus supplements pursuant to Rule&#160;424 under the
                Securities Act. These documents and the documents incorporated by
                reference pursuant to Item 3 of Part&#160;II of this registration
                statement, taken together, constitute the prospectus that meets the
                requirements by Section&#160;10(a)&#160;of the Securities
                Act.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PART
      II</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>INFORMATION
      REQUIRED IN THE REGISTRATION STATEMENT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Incorporation
      of Documents by Reference.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>The
      following documents and all other
      documents subsequently filed with the Commission by Vail Resorts, Inc. (the
      &#8220;Registrant&#8221;) pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities
      Exchange Act of 1934, as amended (the "Exchange Act"), prior to the filing
      of a
      post-effective amendment that indicates that all the shares of common stock
      offered hereby have been sold or that deregisters all such shares of common
      stock then remaining unsold, shall be deemed incorporated by reference herein
      and to be a part of this registration statement from the date of filing of
      such
      documents:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
      Registrant&#8217;s annual report on Form 10-K/A for its fiscal year ended July 31,
      2006, filed with the Commission on August 24, 2007;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
      Registrant&#8217;s quarterly reports on Form 10-Q/A for its fiscal quarters ended
      October 31, 2006, filed with the Commission on August 24, 2007, and January
      31,
      2007, filed with the Commission on August 24, 2007, and April 30, 2007, filed
      with the Commission on August 24, 2007;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-FAMILY: Century Schoolbook, Bookman Old Style, serif;"><font size="+0"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;
      </font></font></font>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
      Registrant&#8217;s current reports on Form 8-K, filed with the Commission on October
      10, 2006, December 7, 2006, December 22, 2006, February 2, 2007, March 19,
      2007,
      April 4, 2007, August 8, 2007 and August 24, 2007 (with respect to Item 4.02
      only); and</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
      description of the Registrant&#8217;s common stock as set forth in the Registrant&#8217;s
      registration statement on Form 8-A&#160;&#160;filed with the Commission on July
      3, 1996 (File No. 001-09614), including all amendments and reports filed for
      the
      purpose of updating such description.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Any
      statement contained herein or in a document incorporated or deemed to be
      incorporated by reference shall be deemed to be modified or superseded for
      purposes of this registration statement to the extent that a statement contained
      in any other subsequently filed document which also is or is deemed to be
      incorporated by reference herein modifies or supersedes such prior
      statement.&#160;&#160;Any such statement so modified or superseded shall not be
      deemed to constitute a part of this registration statement, except as so
      modified or superseded.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      4.&#160;&#160;Description of Securities.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Not
      applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      5.&#160;&#160;Interests of Named Experts and Counsel.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Not
      applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      6.&#160;&#160;Indemnification of Officers and Directors.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Section
      145 of the Delaware General
      Corporation Law (the &#8220;DGCL&#8221;) provides as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(a)
      A corporation shall have power to
      indemnify any person who was or is a party or is threatened to be made a party
      to any threatened, pending or completed action, suit or proceeding, whether
      civil, criminal, administrative or investigative (other than an action by or
      in
      the right of the corporation) by reason of the fact that the person is or was
      a
      director, officer, employee or agent of the corporation, or is or was serving
      at
      the request of the corporation as a director, officer, employee or agent of
      another corporation, partnership, joint venture, trust or other enterprise,
      against expenses (including attorneys' fees), judgments, fines and amounts
      paid
      in settlement actually and reasonably incurred by the person in connection
      with
      such action, suit or proceeding if the person acted in good faith and in a
      manner the person reasonably believed to be in or not opposed to the best
      interests of the corporation, and, with respect to any criminal action or
      proceeding, had no reasonable cause to believe the person's conduct was
      unlawful.&#160;&#160;The termination of any action, suit or proceeding by
      judgment, order, settlement, conviction, or upon a plea of nolo contendere
      or
      its equivalent, shall not, of itself, create a presumption that the person
      did
      not act in good faith and in a manner which the person reasonably believed
      to be
      in or not opposed to the best interests of the corporation, and, with respect
      to
      any criminal action or proceeding, had reasonable cause to believe that the
      person's conduct was unlawful.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(b)
      A corporation shall have power to
      indemnify any person who was or is a party or is threatened to be made a party
      to any threatened, pending or completed action or suit by or in the right of
      the
      corporation to procure a judgment in its favor by reason of the fact that the
      person is or was a director, officer, employee or agent of the corporation,
      or
      is or was serving at the request of the corporation as a director, officer,
      employee or agent of another corporation, partnership, joint venture, trust
      or
      other enterprise against expenses (including attorneys' fees) actually and
      reasonably incurred by the person in connection with the defense or settlement
      of such action or suit if the person acted in good faith and in a manner the
      person reasonably believed to be in or not opposed to the best interests of
      the
      corporation and except that no indemnification shall be made in respect of
      any
      claim, issue or matter as to which such person shall have been adjudged to
      be
      liable to the corporation unless and only to the extent that the Court of
      Chancery or the court in which such action or suit was brought shall determine
      upon application that, despite the adjudication of liability but in view of
      all
      the circumstances of the case, such person is fairly and reasonably entitled
      to
      indemnity for such expenses which the Court of Chancery or such other court
      shall deem proper.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(c)
      To the extent that a present or
      former director or officer of a corporation has been successful on the merits
      or
      otherwise in defense of any action, suit or proceeding referred to in
      subsections (a) and (b) of this section, or in defense of any claim, issue
      or
      matter therein, such person shall be indemnified against expenses (including
      attorneys' fees) actually and reasonably incurred by such person in connection
      therewith.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(d)
      Any indemnification under
      subsections (a) and (b) of this section (unless ordered by a court) shall be
      made by the corporation only as authorized in the specific case upon a
      determination that indemnification of the present or former director, officer,
      employee or agent is proper in the circumstances because the person has met
      the
      applicable standard of conduct set forth in subsections (a) and (b) of this
      section.&#160;&#160;Such determination shall be made, with respect to a person
      who is a director or officer at the time of such determination, (1) by a
      majority vote of the directors who are not parties to such action, suit or
      proceeding, even though less than a quorum, or (2) by a committee of such
      directors designated by majority vote of such directors, even though less than
      a
      quorum, or (3) if there are no such directors, or if such directors so direct,
      by independent legal counsel in a written opinion, or (4) by the
      stockholders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(e)
      Expenses (including attorneys'
      fees) incurred by an officer or director in defending any civil, criminal,
      administrative or investigative action, suit or proceeding may be paid by the
      corporation in advance of the final disposition of such action, suit or
      proceeding upon receipt of an undertaking by or on behalf of such director
      or
      officer to repay such amount if it shall ultimately be determined that such
      person is not entitled to be indemnified by the corporation as authorized in
      this section.&#160;&#160;Such expenses (including attorneys' fees) incurred by
      former directors and officers or other employees and agents may be so paid
      upon
      such terms and conditions, if any, as the corporation deems
      appropriate.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(f)
      The indemnification and advancement
      of expenses provided by, or granted pursuant to, the other subsections of this
      section shall not be deemed exclusive of any other rights to which those seeking
      indemnification or advancement of expenses may be entitled under any bylaw,
      agreement, vote of stockholders or disinterested directors or otherwise, both
      as
      to action in such person's official capacity and as to action in another
      capacity while holding such office.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(g)
      A corporation shall have power to
      purchase and maintain insurance on behalf of any person who is or was a
      director, officer, employee or agent of the corporation, or is or was serving
      at
      the request of the corporation as a director, officer, employee or agent of
      another corporation, partnership, joint venture, trust or other enterprise
      against any liability asserted against such person and incurred by such person
      in any such capacity, or arising out of such person's status as such, whether
      or
      not the corporation would have the power to indemnify such person against such
      liability under this section.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(h)
      For purposes of this section,
      references to "the corporation" shall include, in addition to the resulting
      corporation, any constituent corporation (including any constituent of a
      constituent) absorbed in a consolidation or merger which, if its separate
      existence had continued, would have had power and authority to indemnify its
      directors, officers, and employees or agents, so that any person who is or
      was a
      director, officer, employee or agent of such constituent corporation, or is
      or
      was serving at the request of such constituent corporation as a director,
      officer, employee or agent of another corporation, partnership, joint venture,
      trust or other enterprise, shall stand in the same position under this section
      with respect to the resulting or surviving corporation as such person would
      have
      with respect to such constituent corporation if its separate existence had
      continued.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(i)
      For purposes of this section,
      references to "other enterprises" shall include employee benefit
      plans;&#160;&#160;references to "fines" shall include any excise taxes assessed
      on a person with respect to any employee benefit plan;&#160;&#160;and references
      to "serving at the request of the corporation" shall include any service as
      a
      director, officer, employee or agent of the corporation which imposes duties
      on,
      or involves services by, such director, officer, employee or agent with respect
      to an employee benefit plan, its participants or beneficiaries;&#160;&#160;and a
      person who acted in good faith and in a manner such person reasonably believed
      to be in the interest of the participants and beneficiaries of an employee
      benefit plan shall be deemed to have acted in a manner "not opposed to the
      best
      interests of the corporation" as referred to in this section.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(j)
      The indemnification and advancement
      of expenses provided by, or granted pursuant to, this section shall, unless
      otherwise provided when authorized or ratified, continue as to a person who
      has
      ceased to be a director, officer, employee or agent and shall inure to the
      benefit of the heirs, executors and administrators of such a
      person.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(k)
      The Court of Chancery is hereby
      vested with exclusive jurisdiction to hear and determine all actions for
      advancement of expenses or indemnification brought under this section or under
      any bylaw, agreement, vote of stockholders or disinterested directors, or
      otherwise.&#160;&#160;The Court of Chancery may summarily determine a
      corporation's obligation to advance expenses (including attorneys'
      fees).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Section
      37 of the Registrant&#8217;s Bylaws
      provides as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(a)
      Without limiting the generality or
      effect of Article Eight of the Restated Certificate of Incorporation, the
      Corporation shall, to the fullest extent permitted by applicable law as then
      in
      effect, indemnify any person (an "Indemnitee") who is or was involved in any
      manner (including, without limitation, as a party or a witness) or is threatened
      to be made so involved in any threatened, pending, or completed investigation,
      claim, action suit, or proceeding, whether civil, criminal, administrative,
      or
      investigative (including, without limitation, any action, suit, or proceeding
      by
      or in the right of the Corporation to procure a judgment in its favor) (a
      "Proceeding") by reason of the fact that on or after the Effective Date such
      person is or was or had agreed to become a Director, officer or employee of
      the
      Corporation, or on or after the Effective Date is or was or had agreed to become
      at the request of the Board or of an officer of the Corporation, a director,
      officer, or employee of another corporation, partnership, joint venture, trust,
      or other entity, whether for profit or not for profit (including the heirs,
      executors, administrators, or estate of such person), or anything done or not
      by
      such person in any such capacity, against all expenses (including, without
      limitation, attorneys' fees, judgments, fines, and amounts paid in settlement)
      actually and reasonably incurred by such person in connection with such
      Proceeding.&#160;&#160;Such indemnification shall be a contract right and shall
      include the right to receive payment in advance of any expenses incurred by
      an
      Indemnitee in connection with such Proceeding, consistent with the provisions
      of
      applicable law as then in effect.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(b)
      If any provision or provisions of
      this Bylaw 37 are held to be invalid, illegal, or unenforceable for any reason
      whatsoever: (i) the validity, legality, and enforceability of the remaining
      provisions of this Bylaw 37 (including, without limitation, all portions of
      any
      paragraph of this Bylaw 37 containing any such provision held to be invalid,
      illegal, unenforceable, that are not themselves invalid, illegal, or
      unenforceable) will not in any way be affected or impaired thereby and (ii)
      to
      the fullest extent possible, the provisions of this Bylaw 37 (including without
      limitation, all portions of any paragraph of this Bylaw 37 containing any such
      provision held to be invalid, illegal, or unenforceable, that are not themselves
      invalid, illegal, or unenforceable) will be construed so as to give effect
      to
      the intent manifested by the provision held invalid, illegal, or
      unenforceable.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Article
      8 of the Registrant&#8217;s Amended
      and Restated Certificate of Incorporation provides as follows:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>SECTION
      8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Indemnity.&#160;&#160;Each
      person serving as a director, officer or employee of the Corporation (including
      the heirs, executors, administrators or estate of such person), shall be
      indemnified and held harmless by the Corporation to the fullest extent permitted
      by the Delaware General Corporation Law or any other applicable law as currently
      or hereafter in effect.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>SECTION
      8.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Modification
      of Indemnification.&#160;&#160;Without limiting the generality or the effect of
      the foregoing Section 8.01, the Corporation may adopt by-laws or enter into
      one
      or more agreements with any person which provide for indemnification greater
      or
      different than that provided in this Article 8 or the Delaware General
      Corporation Law or any other applicable law.&#160;&#160;Notwithstanding anything
      contained in Article 6 of this Amended and Restated Certificate of Incorporation
      or in the by-laws of the Corporation to the contrary, the amendment or repeal
      of, or adoption of any provision inconsistent with, this Article 8 shall be
      taken only upon the affirmative vote of the holders of at least 80% of the
      Common Stock issued and outstanding entitled to vote thereon.&#160;&#160;Any
      amendment or repeal of, or adoption of any provision inconsistent with, this
      Article 8 shall not adversely affect any right or protection existing hereunder
      prior to such amendment, repeal, or adoption.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>SECTION
      8.03&#160;&#160;&#160;&#160;&#160;Non-Exclusivity.&#160;&#160;The right of
      indemnification provided in this Article 8 shall not be exclusive of any other
      rights to which any person seeking indemnification may otherwise be entitled
      including, without limitation, any contract approved by a majority of the
      Directors, whether or not the Directors approving such contract are or are
      to be
      or may become parties to such contract or similar contracts.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      7.&#160;&#160;Exemption from Registration Claimed.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Not
      applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><font id="TAB1" style="MARGIN-LEFT: 54pt;"></font><u>Exhibit
      No.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description
      of Exhibit</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Vail
                Resorts Inc. 1999 Long Term Incentive and Share Award
                Plan</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.2</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Vail
                Resorts Inc. Amended and Restated 2002 Long Term Incentive and Share
                Award
                Plan</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Opinion
                of Hogan &amp; Hartson L.L.P. with respect to the legality of the common
                stock registered hereby.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">23.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Consent
                of PricewaterhouseCoopers LLP, Independent Registered Public Accounting
                Firm, with respect to the
                Registrant.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">23.2</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Consent
                of Hogan &amp; Hartson L.L.P. (contained in its opinion filed herewith as
                Exhibit 5.1).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">24.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Power
                of Attorney (included on the signature page to this registration
                statement).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      9. Undertakings.</strong></font></div>
    <div><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)&#160;&#160;The
                undersigned Registrant hereby
                undertakes:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(1)&#160;&#160;To
                file, during any period in which offers or sale are being made, a
                post-effective amendment to this</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Registration
      Statement:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(i)&#160;&#160;To
      include any
      prospectus required by Section 10(a)(3) of the Securities Act;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(ii)
      To
      reflect in the prospectus any facts or events arising after the effective date
      of this Registration Statement (or the most recent post-effective amendment
      thereof) which, individually or in the aggregate, represent a fundamental change
      in the information set forth in the registration statement. Notwithstanding
      the
      foregoing, any increase or decrease in volume of securities offered (if the
      total dollar value of securities offered would not exceed that which was
      registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the
      Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
      and price represent no more than a 20 percent change in the maximum aggregate
      offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the
      effective registration statement; and</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>(iii)&#160;&#160;To
      include any
      material information with respect to the plan of distribution not
      previously</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">disclosed
      in this Registration Statement or any material change to such information in
      this Registration Statement;</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>Provided,
      however</em>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not
      apply if the information required to be included in a post-effective amendment
      by those paragraphs is contained in reports filed with or furnished to the
      Commission by the Registrant pursuant to Section 13 or Section 15(d) of the
      Exchange Act that are incorporated by reference in this Registration
      Statement.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;That,
      for the purpose of determining any liability under the Securities Act, each
      such
      post-effective amendment shall be deemed to be a new registration statement
      relating to the securities offered therein, and the offering of such securities
      at that time shall be deemed to be the initial <em>bona fide</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">offering
      thereof.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(3)&#160;&#160;To
      remove from registration by means of a post-effective amendment any of the
      securities being registered which remain unsold at the termination of the
      offering.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)&#160;&#160;The
      undersigned Registrant hereby undertakes that, for purposes of determining
      any
      liability under the Securities Act, each filing of the Registrant&#8217;s annual
      report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that
      is
      incorporated by reference in this registration statement shall be deemed to
      be a
      new registration statement relating to the securities offered therein, and
      the
      offering of such securities at that time shall be deemed to be the initial
      <em>bona fide</em> offering thereof.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)&#160;&#160;Insofar
      as indemnification for liabilities arising under the Securities Act may be
      permitted to directors, officers and controlling persons of the Registrant
      pursuant to the foregoing provisions, or otherwise, the Registrant has been
      advised that in the opinion of the Commission such indemnification is against
      public policy as expressed in the Securities Act and is, therefore,
      unenforceable.&#160;&#160;In the event that a claim for indemnification against
      such liabilities (other than for the payment by the Registrant of expenses
      incurred or paid by a director, officer or controlling person of the Registrant
      in the successful defense of any action, suit or proceeding) is asserted by
      such
      director, officer or controlling person in connection with the securities being
      registered, the Registrant will, unless in the opinion of its counsel the matter
      has been settled by controlling precedent, submit to a court of competent
      jurisdiction the question of whether such indemnification by it is against
      public policy as expressed by the Securities Act and will be governed by the
      final adjudication of such issue.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SIGNATURES</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Pursuant
      to the requirements of the Securities Act of 1933, as amended, the Registrant
      certifies that it has reasonable grounds to believe that it meets all of the
      requirements for filing on Form S-8 and has duly caused this registration
      statement to be signed on its behalf by the undersigned, thereunto duly
      authorized, in the City of Broomfield, State of Colorado, on this 7<font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>th</sup></font> day of
      September,
      2007.</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="37%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">VAIL
                RESORTS, INC.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="37%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">By:</font></div>
            </td>
            <td align="left" valign="top" width="31%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;/s/
                Fiona Arnold</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="37%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Name:</font></div>
            </td>
            <td align="left" valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Fiona
                Arnold</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="37%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;Title:</font></div>
            </td>
            <td align="left" valign="top" width="31%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Senior
                Vice President and General Counsel</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">KNOW
      ALL
      MEN BY THESE PRESENTS, that each person whose signature appears below
      constitutes and appoints Jeffrey W. Jones and Fiona Arnold, in his or her own
      capacity, his true and lawful attorneys-in-fact and agents, with full power
      of
      substitution and resubstitution, to sign, execute and file with the Commission
      (or any other governmental or regulatory authority), for us and in our names
      in
      the capacities indicated below, this registration statement on Form S-8
      (including all amendments thereto) with all exhibits and any and all documents
      required to be filed with respect thereto, granting unto said attorneys-in-fact
      and agents and each of them, full power and authority to do and to perform
      each
      and every act and thing necessary or desirable to be done in and about the
      premises in order to effectuate the same as fully to all intents and purposes
      as
      the undersigned might or could do if personally present, hereby ratifying and
      confirming all that said attorneys-in-fact and agents, or any of them, may
      lawfully do or cause to be done by virtue hereof.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 36pt;"></font>Pursuant
      to the requirements of the
      Securities Act of 1933, as amended, this registration statement has been signed
      by the following persons in the capacities and on the dates
      indicated.</font></div>
    <div><br></div>
    <div align="center">
      <table cellpadding="0" cellspacing="0" width="90%">

          <tr>
            <td valign="bottom" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Signature</strong></font></div>
            </td>
            <td valign="bottom" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Title</strong></font></div>
            </td>
            <td valign="bottom" width="22%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Date</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Robert A. Katz</font></div>
            </td>
            <td valign="bottom" width="36%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Chief
                Executive Officer and Director</font></div>
            </td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Robert
                A. Katz</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Principal
                Executive Officer)</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Jeffrey W. Jones</font></div>
            </td>
            <td valign="bottom" width="36%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Senior
                Executive Vice President and</font></div>
            </td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Jeffrey
                W. Jones</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Chief
                Financial Officer</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">(Principal
                Financial and Accounting Officer)</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Joe R. Micheletto</font></div>
            </td>
            <td valign="bottom" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Joe
                R. Micheletto</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Chairman
                of the Board of Directors</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                John J. Hannan</font></div>
            </td>
            <td valign="bottom" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">John
                J. Hannan</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Roland A. Hernandez</font></div>
            </td>
            <td valign="bottom" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Roland
                A. Hernandez</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Thomas D. Hyde</font></div>
            </td>
            <td valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Thomas
                D. Hyde</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Richard D. Kincaid</font></div>
            </td>
            <td valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Richard
                D. Kincaid</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                John F. Sorte</font></div>
            </td>
            <td valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">John
                F. Sorte</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>
          <tr>
            <td valign="bottom" width="24%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                William P. Stiritz</font></div>
            </td>
            <td valign="top" width="36%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">September
                7, 2007</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">William
                P. Stiritz</font></div>
            </td>
            <td valign="top" width="36%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Director</font></div>
            </td>
            <td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
          </tr>

      </table>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><font id="TAB1" style="MARGIN-LEFT: 54pt;"></font><u>Exhibit
      No.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description
      of Exhibit</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Vail
                Resorts Inc. 1999 Long Term Incentive and Share Award
                Plan</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.2</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Vail
                Resorts Inc. Amended and Restated 2002 Long Term Incentive and Share
                Award
                Plan</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Opinion
                of Hogan &amp; Hartson L.L.P. with respect to the legality of the common
                stock registered hereby.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">23.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Consent
                of PricewaterhouseCoopers LLP, Independent Registered Public Accounting
                Firm, with respect to the
                Registrant.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 108pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">23.2</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Consent
                of Hogan &amp; Hartson L.L.P. (contained in its opinion filed herewith as
                Exhibit 5.1).</font></div>
            </td>
          </tr>

      </table>
    </div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">24.1</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Power
                of Attorney (included on the signature page to this registration
                statement).</font></div>
            </td>
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forms8.htm
As
      filed with the Securities and Exchange Commission on September 7,
      2007
Registration
      No. 333-____________
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
________________________
FORM
      S-8
REGISTRATION
      STATEMENT
UNDER
THE
      SECURITIES ACT OF 1933
________________________
VAIL
      RESORTS, INC.
(Exact
      name of Registrant as specified in its charter)
Delaware
51-0291762
(State
                or other jurisdiction of incorporation or organization)
(I.R.S.
                Employer Identification No.)
390
                Interlocken Crescent, Suite 1000
Broomfield,
                Colorado
80021
(Address
                of Principal Executive Offices)
(Zip
                Code)
Vail
      Resorts, Inc. 1999 Long Term Incentive and Share Award
      Plan
Vail
      Resorts, Inc. Amended and Restated 2002 Long Term Incentive and Share Award
      Plan
(Full
      title of the Plan)
________________________
Fiona
                Arnold, Esq.
Senior
                Vice President and General Counsel
Vail
                Resorts, Inc.
390
                Interlocken Crescent, Suite 1000
Broomfield,
                Colorado 80021
(303)
                404-1800
(Name,
      address and telephone number, including area code, of agent for
      service)
Copy
      to:
Richard
      J. Mattera, Esq.
Hogan
      & Hartson LLP
One
      Tabor Center, Suite 1500
1200
      Seventeenth Street
Denver,
      Colorado 80202
(303)
      899-7300
CALCULATION
      OF REGISTRATION FEE
Title
                of securities
to
                be registered
Amount
to
                be
Registered
                (1)
Proposed
                maximum
offering
                price
per
                share (2)
Proposed
                maximum
aggregate
                offering
price
                (2)
Amount
                of
registration
fee
                (2(3))
Common
                Stock, par value $.01 per share
4,191,429
$56.35
$198,820,465
$4,695.57
(1)
Pursuant
                to Rule 416 under the Securities Act of 1933, as amended (the "Securities
                Act"), this registration statement covers, in addition to the number
                of
                shares of common stock shown above, an indeterminate number of shares
                of
                common stock that, by reason of certain events specified in the plan
                (e.g., anti-dilution adjustments), may become subject to such
                plan.
(2)
Estimated
                solely for the purpose of calculating the registration fee pursuant
                to
                Rules 457(c) and 457(h) under the Securities Act, based upon (A)
                the
                average of the high and low sales prices reported for the Registrant's
                common stock on the New York Stock Exchange on August 30, 2007 with
                respect to 2,900,400 shares of common stock at $56.35 per share,
                and (B)
                the weighted average exercise price of $27.43 per share with respect
                to
                outstanding share based awards for 1,291,029 shares of common
                stock.
(3)
Pursuant
                to Rule 457(p) under the Securities Act, the amount of registration
                fee
                has been offset by $1,409.13, which is the aggregate total dollar
                amount
                of the filing fee associated with 1,114,765 shares of Common Stock
                which
                were offered under a registration statement on Form S-8 filed with
                the
                Commission on December 8, 2003 (File No. 333-111020) and remained
                unsold
                at the termination of the offering and deregistered pursuant to
                Post-Effective Amendment No. 1 to the registration statement on Form
                S-8
                filed on September 7, 2007 (File No.
                333-111020).
PART
      I
INFORMATION
      REQUIRED IN SECTION 10(a) PROSPECTUS
Item
      1.                      Plan
      Information.*
Item
      2.                      Registrant
      Information and Employee Plan Annual Information.*
*
The
                documents containing the information specified in Part I will be sent
                or given to participants in the Vail Resorts, Inc. 1999 Long Term
                Incentive and Share Award Plan and the Vail Resorts, Inc. Amended
                and
                Restated 2002 Long Term Incentive and Share Award Plan (collectively,
                the
                "Plans") as specified by Rule 428(b)(1) under the Securities
                Act.  Pursuant to the Note to Part I of Form S-8, such
                documents will not be filed with the Securities and Exchange Commission
                (the "Commission") either as part of this registration statement or as
                prospectuses or prospectus supplements pursuant to Rule 424 under the
                Securities Act. These documents and the documents incorporated by
                reference pursuant to Item 3 of Part II of this registration
                statement, taken together, constitute the prospectus that meets the
                requirements by Section 10(a) of the Securities
                Act.
PART
      II
INFORMATION
      REQUIRED IN THE REGISTRATION STATEMENT
Item
      3.                      Incorporation
      of Documents by Reference.
The
      following documents and all other
      documents subsequently filed with the Commission by Vail Resorts, Inc. (the
      "Registrant") pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities
      Exchange Act of 1934, as amended (the "Exchange Act"), prior to the filing
      of a
      post-effective amendment that indicates that all the shares of common stock
      offered hereby have been sold or that deregisters all such shares of common
      stock then remaining unsold, shall be deemed incorporated by reference herein
      and to be a part of this registration statement from the date of filing of
      such
      documents:
(a)           the
      Registrant's annual report on Form 10-K/A for its fiscal year ended July 31,
      2006, filed with the Commission on August 24, 2007;
(b)           the
      Registrant's quarterly reports on Form 10-Q/A for its fiscal quarters ended
      October 31, 2006, filed with the Commission on August 24, 2007, and January
      31,
      2007, filed with the Commission on August 24, 2007, and April 30, 2007, filed
      with the Commission on August 24, 2007;
(c)           the
      Registrant's current reports on Form 8-K, filed with the Commission on October
      10, 2006, December 7, 2006, December 22, 2006, February 2, 2007, March 19,
      2007,
      April 4, 2007, August 8, 2007 and August 24, 2007 (with respect to Item 4.02
      only); and
(d)           the
      description of the Registrant's common stock as set forth in the Registrant's
      registration statement on Form 8-A  filed with the Commission on July
      3, 1996 (File No. 001-09614), including all amendments and reports filed for
      the
      purpose of updating such description.
Any
      statement contained herein or in a document incorporated or deemed to be
      incorporated by reference shall be deemed to be modified or superseded for
      purposes of this registration statement to the extent that a statement contained
      in any other subsequently filed document which also is or is deemed to be
      incorporated by reference herein modifies or supersedes such prior
      statement.  Any such statement so modified or superseded shall not be
      deemed to constitute a part of this registration statement, except as so
      modified or superseded.
Item
      4.  Description of Securities.
Not
      applicable.
Item
      5.  Interests of Named Experts and Counsel.
Not
      applicable.
Item
      6.  Indemnification of Officers and Directors.
Section
      145 of the Delaware General
      Corporation Law (the "DGCL") provides as follows:
(a)
      A corporation shall have power to
      indemnify any person who was or is a party or is threatened to be made a party
      to any threatened, pending or completed action, suit or proceeding, whether
      civil, criminal, administrative or investigative (other than an action by or
      in
      the right of the corporation) by reason of the fact that the person is or was
      a
      director, officer, employee or agent of the corporation, or is or was serving
      at
      the request of the corporation as a director, officer, employee or agent of
      another corporation, partnership, joint venture, trust or other enterprise,
      against expenses (including attorneys' fees), judgments, fines and amounts
      paid
      in settlement actually and reasonably incurred by the person in connection
      with
      such action, suit or proceeding if the person acted in good faith and in a
      manner the person reasonably believed to be in or not opposed to the best
      interests of the corporation, and, with respect to any criminal action or
      proceeding, had no reasonable cause to believe the person's conduct was
      unlawful.  The termination of any action, suit or proceeding by
      judgment, order, settlement, conviction, or upon a plea of nolo contendere
      or
      its equivalent, shall not, of itself, create a presumption that the person
      did
      not act in good faith and in a manner which the person reasonably believed
      to be
      in or not opposed to the best interests of the corporation, and, with respect
      to
      any criminal action or proceeding, had reasonable cause to believe that the
      person's conduct was unlawful.
(b)
      A corporation shall have power to
      indemnify any person who was or is a party or is threatened to be made a party
      to any threatened, pending or completed action or suit by or in the right of
      the
      corporation to procure a judgment in its favor by reason of the fact that the
      person is or was a director, officer, employee or agent of the corporation,
      or
      is or was serving at the request of the corporation as a director, officer,
      employee or agent of another corporation, partnership, joint venture, trust
      or
      other enterprise against expenses (including attorneys' fees) actually and
      reasonably incurred by the person in connection with the defense or settlement
      of such action or suit if the person acted in good faith and in a manner the
      person reasonably believed to be in or not opposed to the best interests of
      the
      corporation and except that no indemnification shall be made in respect of
      any
      claim, issue or matter as to which such person shall have been adjudged to
      be
      liable to the corporation unless and only to the extent that the Court of
      Chancery or the court in which such action or suit was brought shall determine
      upon application that, despite the adjudication of liability but in view of
      all
      the circumstances of the case, such person is fairly and reasonably entitled
      to
      indemnity for such expenses which the Court of Chancery or such other court
      shall deem proper.
(c)
      To the extent that a present or
      former director or officer of a corporation has been successful on the merits
      or
      otherwise in defense of any action, suit or proceeding referred to in
      subsections (a) and (b) of this section, or in defense of any claim, issue
      or
      matter therein, such person shall be indemnified against expenses (including
      attorneys' fees) actually and reasonably incurred by such person in connection
      therewith.
(d)
      Any indemnification under
      subsections (a) and (b) of this section (unless ordered by a court) shall be
      made by the corporation only as authorized in the specific case upon a
      determination that indemnification of the present or former director, officer,
      employee or agent is proper in the circumstances because the person has met
      the
      applicable standard of conduct set forth in subsections (a) and (b) of this
      section.  Such determination shall be made, with respect to a person
      who is a director or officer at the time of such determination, (1) by a
      majority vote of the directors who are not parties to such action, suit or
      proceeding, even though less than a quorum, or (2) by a committee of such
      directors designated by majority vote of such directors, even though less than
      a
      quorum, or (3) if there are no such directors, or if such directors so direct,
      by independent legal counsel in a written opinion, or (4) by the
      stockholders.
(e)
      Expenses (including attorneys'
      fees) incurred by an officer or director in defending any civil, criminal,
      administrative or investigative action, suit or proceeding may be paid by the
      corporation in advance of the final disposition of such action, suit or
      proceeding upon receipt of an undertaking by or on behalf of such director
      or
      officer to repay such amount if it shall ultimately be determined that such
      person is not entitled to be indemnified by the corporation as authorized in
      this section.  Such expenses (including attorneys' fees) incurred by
      former directors and officers or other employees and agents may be so paid
      upon
      such terms and conditions, if any, as the corporation deems
      appropriate.
(f)
      The indemnification and advancement
      of expenses provided by, or granted pursuant to, the other subsections of this
      section shall not be deemed exclusive of any other rights to which those seeking
      indemnification or advancement of expenses may be entitled under any bylaw,
      agreement, vote of stockholders or disinterested directors or otherwise, both
      as
      to action in such person's official capacity and as to action in another
      capacity while holding such office.
(g)
      A corporation shall have power to
      purchase and maintain insurance on behalf of any person who is or was a
      director, officer, employee or agent of the corporation, or is or was serving
      at
      the request of the corporation as a director, officer, employee or agent of
      another corporation, partnership, joint venture, trust or other enterprise
      against any liability asserted against such person and incurred by such person
      in any such capacity, or arising out of such person's status as such, whether
      or
      not the corporation would have the power to indemnify such person against such
      liability under this section.
(h)
      For purposes of this section,
      references to "the corporation" shall include, in addition to the resulting
      corporation, any constituent corporation (including any constituent of a
      constituent) absorbed in a consolidation or merger which, if its separate
      existence had continued, would have had power and authority to indemnify its
      directors, officers, and employees or agents, so that any person who is or
      was a
      director, officer, employee or agent of such constituent corporation, or is
      or
      was serving at the request of such constituent corporation as a director,
      officer, employee or agent of another corporation, partnership, joint venture,
      trust or other enterprise, shall stand in the same position under this section
      with respect to the resulting or surviving corporation as such person would
      have
      with respect to such constituent corporation if its separate existence had
      continued.
(i)
      For purposes of this section,
      references to "other enterprises" shall include employee benefit
      plans;  references to "fines" shall include any excise taxes assessed
      on a person with respect to any employee benefit plan;  and references
      to "serving at the request of the corporation" shall include any service as
      a
      director, officer, employee or agent of the corporation which imposes duties
      on,
      or involves services by, such director, officer, employee or agent with respect
      to an employee benefit plan, its participants or beneficiaries;  and a
      person who acted in good faith and in a manner such person reasonably believed
      to be in the interest of the participants and beneficiaries of an employee
      benefit plan shall be deemed to have acted in a manner "not opposed to the
      best
      interests of the corporation" as referred to in this section.
(j)
      The indemnification and advancement
      of expenses provided by, or granted pursuant to, this section shall, unless
      otherwise provided when authorized or ratified, continue as to a person who
      has
      ceased to be a director, officer, employee or agent and shall inure to the
      benefit of the heirs, executors and administrators of such a
      person.
(k)
      The Court of Chancery is hereby
      vested with exclusive jurisdiction to hear and determine all actions for
      advancement of expenses or indemnification brought under this section or under
      any bylaw, agreement, vote of stockholders or disinterested directors, or
      otherwise.  The Court of Chancery may summarily determine a
      corporation's obligation to advance expenses (including attorneys'
      fees).
Section
      37 of the Registrant's Bylaws
      provides as follows:
(a)
      Without limiting the generality or
      effect of Article Eight of the Restated Certificate of Incorporation, the
      Corporation shall, to the fullest extent permitted by applicable law as then
      in
      effect, indemnify any person (an "Indemnitee") who is or was involved in any
      manner (including, without limitation, as a party or a witness) or is threatened
      to be made so involved in any threatened, pending, or completed investigation,
      claim, action suit, or proceeding, whether civil, criminal, administrative,
      or
      investigative (including, without limitation, any action, suit, or proceeding
      by
      or in the right of the Corporation to procure a judgment in its favor) (a
      "Proceeding") by reason of the fact that on or after the Effective Date such
      person is or was or had agreed to become a Director, officer or employee of
      the
      Corporation, or on or after the Effective Date is or was or had agreed to become
      at the request of the Board or of an officer of the Corporation, a director,
      officer, or employee of another corporation, partnership, joint venture, trust,
      or other entity, whether for profit or not for profit (including the heirs,
      executors, administrators, or estate of such person), or anything done or not
      by
      such person in any such capacity, against all expenses (including, without
      limitation, attorneys' fees, judgments, fines, and amounts paid in settlement)
      actually and reasonably incurred by such person in connection with such
      Proceeding.  Such indemnification shall be a contract right and shall
      include the right to receive payment in advance of any expenses incurred by
      an
      Indemnitee in connection with such Proceeding, consistent with the provisions
      of
      applicable law as then in effect.
(b)
      If any provision or provisions of
      this Bylaw 37 are held to be invalid, illegal, or unenforceable for any reason
      whatsoever: (i) the validity, legality, and enforceability of the remaining
      provisions of this Bylaw 37 (including, without limitation, all portions of
      any
      paragraph of this Bylaw 37 containing any such provision held to be invalid,
      illegal, unenforceable, that are not themselves invalid, illegal, or
      unenforceable) will not in any way be affected or impaired thereby and (ii)
      to
      the fullest extent possible, the provisions of this Bylaw 37 (including without
      limitation, all portions of any paragraph of this Bylaw 37 containing any such
      provision held to be invalid, illegal, or unenforceable, that are not themselves
      invalid, illegal, or unenforceable) will be construed so as to give effect
      to
      the intent manifested by the provision held invalid, illegal, or
      unenforceable.
Article
      8 of the Registrant's Amended
      and Restated Certificate of Incorporation provides as follows:
SECTION
      8.01            Indemnity.  Each
      person serving as a director, officer or employee of the Corporation (including
      the heirs, executors, administrators or estate of such person), shall be
      indemnified and held harmless by the Corporation to the fullest extent permitted
      by the Delaware General Corporation Law or any other applicable law as currently
      or hereafter in effect.
SECTION
      8.02            Modification
      of Indemnification.  Without limiting the generality or the effect of
      the foregoing Section 8.01, the Corporation may adopt by-laws or enter into
      one
      or more agreements with any person which provide for indemnification greater
      or
      different than that provided in this Article 8 or the Delaware General
      Corporation Law or any other applicable law.  Notwithstanding anything
      contained in Article 6 of this Amended and Restated Certificate of Incorporation
      or in the by-laws of the Corporation to the contrary, the amendment or repeal
      of, or adoption of any provision inconsistent with, this Article 8 shall be
      taken only upon the affirmative vote of the holders of at least 80% of the
      Common Stock issued and outstanding entitled to vote thereon.  Any
      amendment or repeal of, or adoption of any provision inconsistent with, this
      Article 8 shall not adversely affect any right or protection existing hereunder
      prior to such amendment, repeal, or adoption.
SECTION
      8.03     Non-Exclusivity.  The right of
      indemnification provided in this Article 8 shall not be exclusive of any other
      rights to which any person seeking indemnification may otherwise be entitled
      including, without limitation, any contract approved by a majority of the
      Directors, whether or not the Directors approving such contract are or are
      to be
      or may become parties to such contract or similar contracts.
Item
      7.  Exemption from Registration Claimed.
Not
      applicable.
Item
      8.                      Exhibits.
Exhibit
      No.
Description
      of Exhibit
4.1
Vail
                Resorts Inc. 1999 Long Term Incentive and Share Award
                Plan
4.2
Vail
                Resorts Inc. Amended and Restated 2002 Long Term Incentive and Share
                Award
                Plan
5.1
Opinion
                of Hogan & Hartson L.L.P. with respect to the legality of the common
                stock registered hereby.
23.1
Consent
                of PricewaterhouseCoopers LLP, Independent Registered Public Accounting
                Firm, with respect to the
                Registrant.
23.2
Consent
                of Hogan & Hartson L.L.P. (contained in its opinion filed herewith as
                Exhibit 5.1).
24.1
Power
                of Attorney (included on the signature page to this registration
                statement).
Item
      9. Undertakings.
(a)  The
                undersigned Registrant hereby
                undertakes:
(1)  To
                file, during any period in which offers or sale are being made, a
                post-effective amendment to this
Registration
      Statement:
(i)  To
      include any
      prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
      To
      reflect in the prospectus any facts or events arising after the effective date
      of this Registration Statement (or the most recent post-effective amendment
      thereof) which, individually or in the aggregate, represent a fundamental change
      in the information set forth in the registration statement. Notwithstanding
      the
      foregoing, any increase or decrease in volume of securities offered (if the
      total dollar value of securities offered would not exceed that which was
      registered) and any deviation from the low or high end of the estimated maximum
      offering range may be reflected in the form of prospectus filed with the
      Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
      and price represent no more than a 20 percent change in the maximum aggregate
      offering price set forth in the "Calculation of Registration Fee" table in the
      effective registration statement; and
(iii)  To
      include any
      material information with respect to the plan of distribution not
      previously
disclosed
      in this Registration Statement or any material change to such information in
      this Registration Statement;
Provided,
      however
, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not
      apply if the information required to be included in a post-effective amendment
      by those paragraphs is contained in reports filed with or furnished to the
      Commission by the Registrant pursuant to Section 13 or Section 15(d) of the
      Exchange Act that are incorporated by reference in this Registration
      Statement.
(2)  That,
      for the purpose of determining any liability under the Securities Act, each
      such
      post-effective amendment shall be deemed to be a new registration statement
      relating to the securities offered therein, and the offering of such securities
      at that time shall be deemed to be the initial
bona fide
offering
      thereof.
(3)  To
      remove from registration by means of a post-effective amendment any of the
      securities being registered which remain unsold at the termination of the
      offering.
(b)  The
      undersigned Registrant hereby undertakes that, for purposes of determining
      any
      liability under the Securities Act, each filing of the Registrant's annual
      report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that
      is
      incorporated by reference in this registration statement shall be deemed to
      be a
      new registration statement relating to the securities offered therein, and
      the
      offering of such securities at that time shall be deemed to be the initial
bona fide
offering thereof.
(c)  Insofar
      as indemnification for liabilities arising under the Securities Act may be
      permitted to directors, officers and controlling persons of the Registrant
      pursuant to the foregoing provisions, or otherwise, the Registrant has been
      advised that in the opinion of the Commission such indemnification is against
      public policy as expressed in the Securities Act and is, therefore,
      unenforceable.  In the event that a claim for indemnification against
      such liabilities (other than for the payment by the Registrant of expenses
      incurred or paid by a director, officer or controlling person of the Registrant
      in the successful defense of any action, suit or proceeding) is asserted by
      such
      director, officer or controlling person in connection with the securities being
      registered, the Registrant will, unless in the opinion of its counsel the matter
      has been settled by controlling precedent, submit to a court of competent
      jurisdiction the question of whether such indemnification by it is against
      public policy as expressed by the Securities Act and will be governed by the
      final adjudication of such issue.
SIGNATURES
Pursuant
      to the requirements of the Securities Act of 1933, as amended, the Registrant
      certifies that it has reasonable grounds to believe that it meets all of the
      requirements for filing on Form S-8 and has duly caused this registration
      statement to be signed on its behalf by the undersigned, thereunto duly
      authorized, in the City of Broomfield, State of Colorado, on this 7
th
day of
      September,
      2007.
VAIL
                RESORTS, INC.
By:
/s/
                Fiona Arnold
Name:
Fiona
                Arnold
Title:
Senior
                Vice President and General Counsel
KNOW
      ALL
      MEN BY THESE PRESENTS, that each person whose signature appears below
      constitutes and appoints Jeffrey W. Jones and Fiona Arnold, in his or her own
      capacity, his true and lawful attorneys-in-fact and agents, with full power
      of
      substitution and resubstitution, to sign, execute and file with the Commission
      (or any other governmental or regulatory authority), for us and in our names
      in
      the capacities indicated below, this registration statement on Form S-8
      (including all amendments thereto) with all exhibits and any and all documents
      required to be filed with respect thereto, granting unto said attorneys-in-fact
      and agents and each of them, full power and authority to do and to perform
      each
      and every act and thing necessary or desirable to be done in and about the
      premises in order to effectuate the same as fully to all intents and purposes
      as
      the undersigned might or could do if personally present, hereby ratifying and
      confirming all that said attorneys-in-fact and agents, or any of them, may
      lawfully do or cause to be done by virtue hereof.
Pursuant
      to the requirements of the
      Securities Act of 1933, as amended, this registration statement has been signed
      by the following persons in the capacities and on the dates
      indicated.
Signature
Title
Date
/s/
                Robert A. Katz
Chief
                Executive Officer and Director
September
                7, 2007
Robert
                A. Katz
(Principal
                Executive Officer)
/s/
                Jeffrey W. Jones
Senior
                Executive Vice President and
September
                7, 2007
Jeffrey
                W. Jones
Chief
                Financial Officer
(Principal
                Financial and Accounting Officer)
/s/
                Joe R. Micheletto
September
                7, 2007
Joe
                R. Micheletto
Chairman
                of the Board of Directors
/s/
                John J. Hannan
September
                7, 2007
John
                J. Hannan
Director
/s/
                Roland A. Hernandez
September
                7, 2007
Roland
                A. Hernandez
Director
/s/
                Thomas D. Hyde
September
                7, 2007
Thomas
                D. Hyde
Director
/s/
                Richard D. Kincaid
September
                7, 2007
Richard
                D. Kincaid
Director
/s/
                John F. Sorte
September
                7, 2007
John
                F. Sorte
Director
/s/
                William P. Stiritz
September
                7, 2007
William
                P. Stiritz
Director
EXHIBIT
      INDEX
Exhibit
      No.
Description
      of Exhibit
4.1
Vail
                Resorts Inc. 1999 Long Term Incentive and Share Award
                Plan
4.2
Vail
                Resorts Inc. Amended and Restated 2002 Long Term Incentive and Share
                Award
                Plan
5.1
Opinion
                of Hogan & Hartson L.L.P. with respect to the legality of the common
                stock registered hereby.
23.1
Consent
                of PricewaterhouseCoopers LLP, Independent Registered Public Accounting
                Firm, with respect to the
                Registrant.
23.2
Consent
                of Hogan & Hartson L.L.P. (contained in its opinion filed herewith as
                Exhibit 5.1).
24.1
Power
                of Attorney (included on the signature page to this registration
                statement).