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<ACCESSION-NUMBER>0000812011-03-000024
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20030731
<ITEMS>12
<FILING-DATE>20031113
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>VAIL RESORTS INC
<CIK>0000812011
<ASSIGNED-SIC>7990
<IRS-NUMBER>510291762
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0731
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-09614
<FILM-NUMBER>03996164
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>137 BENCHMARK ROAD
<STREET2>C/O ANACONDA TOWER
<CITY>AVON
<STATE>CO
<ZIP>81620
<PHONE>9708452950
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>137 BENCHMARK ROAD
<CITY>AVON
<STATE>CO
<ZIP>81620
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8kfy03restatement.htm
<DESCRIPTION>VAIL RESORTS FORM 8-K
<TEXT>
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<B><FONT SIZE=4><P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>
</B></FONT><P ALIGN="CENTER">Washington, D.C. 20549</P>
<B><P ALIGN="CENTER">FORM 8-K</P>
</B><P ALIGN="CENTER">C<FONT FACE="Times New (W1)">URRENT</FONT> REPORT</P>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>
<P ALIGN="CENTER">Date of Report (Date of Earliest Event Reported): <U>November 13, 2003</P></U>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=498>
<TR><TD VALIGN="TOP" COLSPAN=7>
<U><P ALIGN="CENTER">Vail Resorts, Inc.</U></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=7>
<P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP">
<U><P ALIGN="CENTER">Delaware</U></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<U><P ALIGN="CENTER">1-9614</U></TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=2>
<U><P ALIGN="CENTER">51-0291762</U></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP">
<P ALIGN="CENTER">(State or other jurisdiction<BR>
of incorporation)</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="CENTER">(Commission <BR>
File Number)</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">(IRS Employer</P>
<P ALIGN="CENTER">Identification No.)</TD>
</TR>
<TR><TD WIDTH="71%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="71%" VALIGN="TOP" COLSPAN=4>
<U><P ALIGN="CENTER">137 Benchmark Road Avon, Colorado</U></TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<U><P ALIGN="CENTER">81620</U></TD>
</TR>
<TR><TD WIDTH="71%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">(Address of principal executive offices)</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<P ALIGN="CENTER">(Zip Code)</TD>
</TR>
<TR><TD WIDTH="71%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="71%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">Registrant's telephone number, including area code:</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<U><P ALIGN="CENTER">(970) 845-2500</U></TD>
</TR>
<TR><TD WIDTH="71%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="1%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=7>
<U><P ALIGN="CENTER">Not applicable</U></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=7>
<P ALIGN="CENTER">(Former name or former address, if changed since last report)</TD>
</TR>
</TABLE>
</CENTER></P>

<B><P ALIGN="CENTER">&nbsp;</P>
<P>Item 12. Results of Operations and Financial Condition.</P>
</B><P>On November 13, 2003, Vail Resorts, Inc. issued a press release announcing the restatement of its historical financial statements (the "Press Release"). A copy of the Press Release is being furnished as Exhibit 99 to this Report.</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURE</P>
</B><P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=586>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>Dated: <U>November 13, 2003</U></TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P>Vail Resorts, Inc.</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="36%" VALIGN="TOP">
<I><U><P>/s/ Adam M. Aron&#9;</I></U></TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P>Adam M. Aron</TD>
</TR>
<TR><TD WIDTH="59%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P>Chairman of the Board and Chief Executive Officer</TD>
</TR>
</TABLE>
</CENTER></P>

<B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">EXHIBIT INDEX</P></B>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=446>
<TR><TD WIDTH="19%" VALIGN="TOP">
<U><P ALIGN="CENTER">Exhibit No.</U></TD>
<TD WIDTH="63%" VALIGN="TOP">
<U><P ALIGN="CENTER">Description</U></TD>
<TD WIDTH="18%" VALIGN="TOP">
<U><P ALIGN="CENTER">Page No.</U></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="CENTER">99</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>Press Release dated November 13, 2003<A NAME="SendMailTemp"></A></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="CENTER">4</TD>
</TR>
</TABLE>
</CENTER></P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>fy03restatementrelease.htm
<DESCRIPTION>VAIL RESORTS PRESS RELEAS
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<B><FONT SIZE=4><P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>
</B></FONT><P ALIGN="CENTER">Washington, D.C.  20549</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">FORM 8-K</P>
<P ALIGN="CENTER"></P>
</B><P ALIGN="CENTER">C<FONT FACE="Times New (W1)">URRENT</FONT> REPORT</P>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">Date of Report (Date of Earliest Event Reported): <U>November 13, 2003</P>
<P ALIGN="CENTER"></P></U>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=499>
<TR><TD VALIGN="TOP" COLSPAN=7>
<U><P ALIGN="CENTER">Vail Resorts, Inc.</U></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=7>
<P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP">
<U><P ALIGN="CENTER">Delaware</U></TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<U><P ALIGN="CENTER">1-9614</U></TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=2>
<U><P ALIGN="CENTER">51-0291762</U></TD>
</TR>
<TR><TD WIDTH="48%" VALIGN="TOP">
<P ALIGN="CENTER">(State or other jurisdiction<BR>
 of incorporation)</TD>
<TD WIDTH="2%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="CENTER">(Commission <BR>
File Number)</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="29%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">(IRS Employer</P>
<P ALIGN="CENTER">Identification No.)</TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="TOP" COLSPAN=4>
<U><P ALIGN="CENTER">137 Benchmark Road Avon, Colorado</U></TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<U><P ALIGN="CENTER">81620</U></TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">(Address of principal executive offices)</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<P ALIGN="CENTER">(Zip Code)</TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="CENTER">Registrant's telephone number, including area code:</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">
<U><P ALIGN="CENTER">(970) 845-2500</U></TD>
</TR>
<TR><TD WIDTH="70%" VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
<TD WIDTH="2%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=7>
<U><P ALIGN="CENTER">Not applicable</U></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=7>
<P ALIGN="CENTER">(Former name or former address, if changed since last report)</TD>
</TR>
</TABLE>
</CENTER></P>


<B><P>&nbsp;</P>
<P>Item 12.  Results of Operations and Financial Condition.</P>
</B>
<P>On November 13, 2003, Vail Resorts, Inc. issued a press release announcing the restatement of its historical financial statements (the &quot;Press Release&quot;).  A copy of the Press Release is being furnished as Exhibit 99 to this Report.</P>

<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURE</P>
</B>
<P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=592>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>Dated:  <U>November 13, 2003</U></TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P>Vail Resorts, Inc.</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="36%" VALIGN="TOP">
<I><U><P>/s/  James P. Donohue&#9;</I></U></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P>James P. Donohue</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P>Senior Vice President and Chief Financial Officer</TD>
</TR>
</TABLE>
</CENTER></P>
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<B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">EXHIBIT INDEX</P></B>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 WIDTH=447>
<TR><TD WIDTH="19%" VALIGN="TOP">
<U><P ALIGN="CENTER">Exhibit No.</U></TD>
<TD WIDTH="63%" VALIGN="TOP">
<U><P ALIGN="CENTER">Description</U></TD>
<TD WIDTH="18%" VALIGN="TOP">
<U><P ALIGN="CENTER">Page No.</U></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P ALIGN="CENTER">99</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>Press Release dated November 13, 2003<A NAME="SendMailTemp"></A></TD>
<TD WIDTH="18%" VALIGN="TOP">
<P ALIGN="CENTER">4</TD>
</TR>
</TABLE>
</CENTER></P>

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