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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950162-03-000658.txt : 20030401
<SEC-HEADER>0000950162-03-000658.hdr.sgml : 20030401
<ACCEPTANCE-DATETIME>20030401153811
ACCESSION NUMBER:		0000950162-03-000658
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030328
FILED AS OF DATE:		20030401

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAIL RESORTS INC
		CENTRAL INDEX KEY:			0000812011
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				510291762
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09614
		FILM NUMBER:		03634312

	BUSINESS ADDRESS:	
		STREET 1:		137 BENCHMARK ROAD
		STREET 2:		C/O ANACONDA TOWER
		CITY:			AVON
		STATE:			CO
		ZIP:			81620
		BUSINESS PHONE:		9708452950

	MAIL ADDRESS:	
		STREET 1:		137 BENCHMARK ROAD
		CITY:			AVON
		STATE:			CO
		ZIP:			81620

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TESTWUIDE PAUL
		CENTRAL INDEX KEY:			0001072056
		RELATIONSHIP:				OFFICER

	FILING VALUES:
		FORM TYPE:		4

	BUSINESS ADDRESS:	
		STREET 1:		C/O VAIL RESORTS INC
		STREET 2:		P O BOX 7
		CITY:			VAIL
		STATE:			CO
		ZIP:			81658
		BUSINESS PHONE:		9708452490

	MAIL ADDRESS:	
		STREET 1:		C/O VAIL RESORTS INC
		STREET 2:		P O BOX 7
		CITY:			VAIL
		STATE:			CO
		ZIP:			81658
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>testwuideform4040103no2.txt
<DESCRIPTION>FORM 4
<TEXT>
                                                  ------------------------------
                                                          OMB APPROVAL
                                                  ------------------------------
                                                  OMB Number:          3235-0287
                                                  Expires:      January 31, 2005
                                                  Estimated average burden
                                                  hours per response.........0.5
                                                  ------------------------------

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(h) of the Investment Company Act of 1940

|_|  Check this box if no longer subject to Section 16. Form 4 or Form 5
     obligations may continue. See Instruction 1(b).

(Print of Type Responses)
________________________________________________________________________________
1.   Name and Address of Reporting Person*

     Testwuide                       Paul
- --------------------------------------------------------------------------------
   (Last)                           (First)             (Middle)

     137 Benchmark Road
- --------------------------------------------------------------------------------
                                    (Street)

     Avon                              CO                81620
- --------------------------------------------------------------------------------
   (City)                           (State)              (Zip)


________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol

     Vail Resorts, Inc. ("MTN")
________________________________________________________________________________
3.   I.R.S. Identification Number of Reporting Person, if an entity (voluntary)


________________________________________________________________________________
4.   Statement for Month/Day/Year

     03/28/03
________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Day/Year)


________________________________________________________________________________
6.   Relationship of Reporting Person(s) to Issuer
     (Check all applicable)

     |_|  Director                             |_|  10% Owner
     |X|  Officer (give title below)           |_|  Other (specify below)

     ____________________________________________________________________
________________________________________________________________________________
7.   Individual or Joint/Group Filing (Check Applicable line)

     |X|  Form Filed by One Reporting Person
     |_|  Form Filed by More than One Reporting Person
________________________________________________________________________________

================================================================================
           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
                                                                                                 5.
                                                                                                 Amount of      6.
                                                                 4.                              Securities     Owner-
                                                                 Securities Acquired (A) or      Beneficially   ship
                                       2A.          3.           Disposed of (D)                 Owned          Form:     7.
                            2.         Deemed       Transaction  (Instr. 3, 4 and 5)             Following      Direct    Nature of
                            Trans-     Execution    Code         ------------------------------- Reported       (D) or    Indirect
1.                          action     Date, if     (Instr. 8)                   (A)             Transaction(s) Indirect  Beneficial
Title of Security           Date       any          ------------                 or              (Instr. 3 &    (I)       Ownership
(Instr. 3)                  (mm/dd/yy) (mm/dd/yy)    Code     V      Amount      (D)    Price     Instr.4)      (Instr.4) (Instr.4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                         <C>        <C>           <C>      <C>    <C>         <C>    <C>      <C>            <C>       <C>
Common Stock                03/28/03                 S               600         D      11.32
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock                03/28/03                 S               2,800       D      11.35
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock                03/28/03                 S               600         D      11.36
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock                03/28/03                 S               200         D      11.40
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  5,670          D
- ------------------------------------------------------------------------------------------------------------------------------------

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====================================================================================================================================
</TABLE>
<PAGE>


FORM 4 (continued)

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
            (e.g., puts, calls, warrants, options, convertible securities)

================================================================================
<TABLE>
<CAPTION>
                                                                                                          9.
                                                                                                          Number    10.
                                                                                                          of        Owner-
                                                                                                          deriv-    ship
                                                                                                          ative     Form
             2.                                                                                           Secur-    of
             Conver-                            5.                              7.                        ities     Deriv-   11.
             sion                               Number of                       Title and Amount          Bene-     ative    Nature
             or                                 Derivative    6.                of Underlying     8.      ficially  Secur-   of
             Exer-            3A.      4.       Securities    Date              Securities        Price   Owned     ity:     In-
             cise             Deemed   Trans-   Acquired (A)  Exercisable and   (Instr. 3 and 4)  of      Follow-   Direct   direct
             Price   3.       Execut-  action   or Disposed   Expiration Date   ----------------  Deriv-  ing       (D) or   Bene-
1.           of      Trans-   ion      Code     of(D)         (Month/Day/Year)            Amount  ative   Reported  In-      ficial
Title of     Deriv-  action   Date if  (Instr.  (Instr. 3,    ----------------            or      Secur-  Trans-    direct   Owner-
Derivative   ative   Date     any      8)       4 and 5)      Date     Expira-            Number  ity     action(s) (I)      ship
Security     Secur-  (mm/dd/  (mm/dd/  ------   ------------  Exer-    tion               of      (Instr. (Instr.   (Instr.  (Instr.
(Instr. 3)   ity     yy)      yy)      Code V    (A)   (D)    cisable  Date     Title     Shares  5)      4)        4)       4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>     <C>               <C>  <C>  <C>   <C>    <C>      <C>      <C>       <C>     <C>     <C>       <C>      <C>

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

====================================================================================================================================
</TABLE>
Explanation of Responses:


/s/ Paul Testwuide                                            April 1, 2003
- ---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date

Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

*     If the form is filed by more than one reporting person, see Instruction
      4(b)(v).

**     Intentional misstatements or omissions of facts constitute Federal
       Criminal Violations.

       See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space is insufficient, see Instruction 6 for procedure.


                                                                          Page 2

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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